SBS Buying Urban One’s KROI/Houston
• Turns out that Spanish Broadcasting System (SBS) is the unnamed “minority-owned broadcaster” that Urban One was referring to when discussing the impending sale of KROI (Praise 92.1)/Houston, as it was announced that SBS is paying $7.5 million for KROI — [Fun Fact: that’s nearly ten times less than what Radio One originally paid for the station in 2004].
The spin-off to SBS is part of Urban One’s $27.5 million asset purchase agreement with Cox Media Group to acquire CMG’s Houston radio group — Country KKBQ (93Q), Classic Rock simulcast KHPT/KGLK (The Eagle 106.9 & 107.5) and Classic Country KTHT (Country Legends 97.1) and helps meet the part of the agreement to divest two Houston FMs to comply with FCC ownership limits.
Urban One is currently in conversations with other interested parties regarding the sale of the second FM, CMG Classic Country KTHT (Country Legends 97.1). Stay tuned.
