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MediaBuyerPlanner: Entravision has sold its Dallas radio stations to Liberman Broadcasting of Dallas for $95 million.
The stations include KTCY-FM, KZZA-FM, KZMP-FM, KZMP-AM and the recently acquired KBOC-FM. The sale, which is subject to regulatory approvals, is expected to close in the fourth quarter of 2006. Upon closing of the transaction, Entravision will no longer have operations in the Dallas market.
"This transaction reflects our focus on maximizing the value of our assets and directing our resources towards building strong radio clusters and television duopolies," said Walter Ulloa, Chairman and Chief Executive Officer. "The proceeds will bolster our balance sheet and improve our financial flexibility. Going forward, we will continue to build leading positions in the fastest growing and highest density Hispanic markets where we can operate both television and radio assets, allowing us to efficiently manage our costs and leverage our operating footprint."
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