Meruelo To Purchase KDAY-FM In L.A.
Meruelo Media, a minority-owned media group in Southern California, is purchasing hip-hop and R&B KDAY-FM in Los Angeles. Meruelo Media will LMA the station as of Januarry 1. Meruelo Media President and COO Otto Padron said, “This acquisition adds a unique media asset to our growing portfolio of highly-recognized media brands. 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.”
The sale is expected to close in the second quarter 2014. Media Venture Partners represented the seller, Magic Broadcasting, in the transaction.