LOS ANGELES, April 15, 2019 /PRNewswire/ -- Meruelo Group announced today that its media division, Meruelo Media, entered into an agreement with Cumulus Media Inc. [NASDAQ: CMLS] to purchase KLOS-FM in Los Angeles. KLOS-FM will join KPWR, KDAY, KDEY-FM, KWHY-TV, and KBEH as the sixth broadcast station in Meruelo Media's Los Angeles cluster.
"KLOS 95.5 is one of the most iconic Rock stations in the world. We are thrilled to add this legendary brand to our Media Division," stated Alex Meruelo, Chairman and CEO of the Meruelo Group.
Otto Padron, President of Meruelo Media, added, "KLOS will be a crown piece in our strategically curated, LA-focused multimedia portfolio. As we've done with all our media properties, we will take full advantage of our deep local resources to grow the globally recognized KLOS heritage rock brand for generations to come."
Effective April 16, 2019, Meruelo Media will take over programming of KLOS under a Local Marketing Agreement. Mr. Padron expects the transaction to be completed in the third quarter of 2019, after customary regulatory approvals are obtained.
About Meruelo Media
Meruelo Media, a division of the Meruelo Group, is the largest and fastest growing minority-owned media company in California. Meruelo Media operates Los Angeles television stations KWHY-22 and KBEH 63, and Los Angeles market radio stations KPWR-FM 105.9 "Power 106," 93.5 KDAY, and Riverside/San Bernardino station 93.5 KDEY-FM.