One month after taking over “Power 106” KPWR Los Angeles from Emmis Communications under a local marketing agreement, Meruelo Media has closed on its $82.75 million purchase of the rhythmic CHR. Otto Padron, president and COO of Meruelo Media, says the company will continue to invest in the heritage station.
After it began programming KPWR on July 1, Meruelo launched a major multiplatform marketing campaign with external advertising and cash contesting involving a $1,000-per-hour giveaway on weekdays and a shot at winning a possible $10 million grand prize. “Meruelo is committed to upholding Power 106’s dominance in the hip-hop market in Southern California and we won’t stop,” Padron said in a news release.
The change of control is historic. “Power 106,” one of the first outlets to program 24/7 hip-hop in the country, had been under Emmis ownership for 32 years. According to Kagan it is the largest single radio-station sale since 2012 and represents nearly 34% of second quarter 2017’s $245 million radio deal volume total.
It now joins Meruelo’s L.A. market classic hip-hop and R&B KDAY (93.5) and rhythmic CHR “Wild 93.5” KDEY in the nearby market of Riverside-San Bernardino, along with L.A.’s MundoMax affiliate KWHY-TV. Mereulo looks to find programming and sales synergies by covering the entire spectrum of hip-hop, both current and classic.
Val Maki, the longtime L.A. market manager for Emmis, was appointed market manager for Meruelo’s Southern California radio stations in early July. “This move strengthens our dominant position in the hip-hop market and unleashes new opportunities to serve our communities and our advertisers,” Maki said. “We are looking forward to bringing the radio division together under one roof in Burbank later this month.”