L&L To Purchase Eight In San Antonio
Larry Wilson's L&L Broadcasting has entered into a definitive agreement to purchase radio stations from the Border Media Business Trust for $31 million. Border Media Business Trust LP owns eight radio stations located in and around San Antonio, Texas, which include KJXK, KLEY, KSAH-AM, KSAH-FM, KTFM, KTSA, KZDC, and KHHL.
Larry Wilson, Chairman of Alpha Broadcasting and L&L Broadcasting will add the San Antonio cluster to the 35 stations currently under the L&L Broadcasting portfolio when all pending deals are completed, bringing the total number of stations owned by L&L to 43. Commenting on the acquisition, Wilson said, “These are a great cluster of radio stations located in a beautiful market that are operated by a very talented group of people. We are excited to add them to our growing company.”
Larry Patrick, Trustee of the stations said, “We could not be happier to have found a wonderful home for our San Antonio stations. Larry Wilson and his L&L Broadcasting represent the best in broadcasting. We wish him continued great success with this cluster.”
Piper Jaffray & Co. assisted L&L Broadcasting in the transaction and Patrick Communications was the broker for the Border Media Business Trust.