Tegna Selling KFMB-AM & FM
• Rumblings around the San Diego radio campfire indicate that Tegna is spinning off News-Talk KFMB-AM 760 and Adult Hits KFMB-FM (100.7). That’s the word from The San Diego Reader (and independently confirmed by RAMP), which reports that Virginia-based Tegna, which purchased CBS affiliate KFMB-TV, CW affiliate KFMB-D2 and KFMB-AM & FM from Midwest Television in early 2018 for a reported $325 million, has put the two radio stations on the market.
According to The Reader, “Investors looking to buy KFMB 760-AM and 100.7 KFMB-FM were told to submit their offers to Tegna, which would announce a new owner by November 15. Tegna did not set minimum bidding guidelines, but insiders say the value of the two KFMB radio stations may be in the $8-to-$10-million range.”
The unnamed “insider” speculates that both stations may end up in the hands of iHeartMedia. Should that happen, the insider says “that would likely mean iHeart’s local sports station KLSD would be moved from its limited 1360 signal and plopped onto 760 AM, completely replacing 760’s current news-talk lineup.”
However…. if such a deal was indeed consummated — and no one is saying anything yet — iHeartMedia would have to divest 1360 AM and one FM, based on market limits imposed by the FCC. You are advised to watch this space for further details.
