Meruelo Media, a minority-owned media group, this week announced the purchase of KDAY 93.5 FM, a Los Angeles' Hip-Hop and R&B radio station.
Meruelo Media, located in Southern California, also owns Spanish language television stations MundoFOX 22 and Super 22. Meruelo Media is the media division of The Meruelo Group, which operate TV stations in L.A., Houston, Santa Barbara, and a Super Station on its digital KWHYTV 22.2 stream with carriage on Time Warner Cable.
KDAY (93.5 MHz on the FM dial) is an iconic L.A. radio station that plays mostly Hip-Hop music. The KDAY call letters were chosen to pay homage to a 1980s AM station, 1580, according to the LA Times.
"This acquisition adds a unique media asset to our growing portfolio of highly-recognized media brands," said Otto Padron, President and COO of Meruelo Media, in a news statement. "We're thrilled at the invaluable opportunity KDAY offers us to expand our media business into the general market. Furthermore, in an ever evolving multi-cultural marketplace, a passion-driven brand like KDAY is strategically priceless."
Thanks to KDAY's loyalty in playing the Hip-Hop, the radio station has helped the careers of many artists such as Dr. Dre, Ice Cube, Ice T, LL Cool J, and Queen Latifa, according to a Meruelo news release.
"Growing up in Los Angeles, I've been a long time fan of KDAY, and I am excited to have the opportunity to re-energize such a beloved Southern California cultural institution ... KDAY is LA!" said Meruelo Group Chairman and CEO Alex Meruelo, in the news release.
A social media campaign was launched earlier this year to save the beloved station after rumors hit that interested buyers would change the station's format.
Meruelo Media will begin operating KDAY on January 1, 2014 pursuant to a Local Marketing Agreement, according to a press release. Subject to the approval of the Federal Communications Commission, the sale of KDAY is expected to close in the second quarter 2014.
Meruelo Group Contributed.
Most Popular Stories
- Fed Committee Optimistic About Growth Prospects
- Pot's Legal in WA -- But You Should Probably Ask Your Boss
- How ESPN Became a $50B Sports Empire
- Obama Cites Letter Writers in Pitching Economy
- Drive-In Movie Theaters Use Creativity to Afford Digital Switch
- U.S. Immigration Courts Facing Record Backlog
- Pau Gasol Turns Down Lakers' Offer
- President Obama Relishes Roadshow, but Agenda Still Stuck
- Stevie Fielder Changes Tune on Thad Cochran Vote-buying Story
- Farrell, Kitsch Rumored for Season 2 of 'True Detective'