Cumulus Selling KLOS/Los Angeles?

• As dawn breaks this morning over Los Angeles, no one is yet confirming — or denying — the Thursday evening Facebook post by Tom Leykis that created a ton of conversations late Thursday night, leading RAMP to believe with a high level of confidence that Cumulus Media is indeed making preparations to sell heritage Rock station KLOS/Los Angeles to Meruelo Media, owners of crosstown Rhythmic KPWR (Power 106) and Classic Hip Hop KDAY.

As Leykis posted in his usual blunt-spoken style, “The death of radio continues. LA’s once great ABC rock station KLOS, now owned by bankrupt Cumulus Media, has apparently been unloaded to Meruelo Media, owners of LA’s Power 106. Remember where you heard it first! #RadioIsDead.”

If this seemingly improbable transaction is as legit as we believe it is, we expect to see an official announcement very soon. This deal would also make KLOS (which is about to celebrate its 50th anniversary) the third Top 10 market station to be spun off by Cumulus this year, following the equally shocking sales of WPLJ/New York and WRQX/Washington to EMF. Watch this space for updates.