Mexico’s Grupo Radio Centro to launch LA radio station.
March 6, 2009
Emmis Communications Corporation announced it has entered into a long-term Local Marketing Agreement (LMA) for KMVN-FM (93.9) with one of Mexico’s leading broadcasting companies, Grupo Radio Centro, S.A.B. de C.V.
The LMA for the Los Angeles radio station will start on April 15, 2009 and continue for up to seven years, for $7 million a year. At any time during the LMA, Grupo Radio Centro (GRC) has the right to purchase the station for $110 million. At the end of the term, Emmis has the right to require GRC to purchase the station for the same amount.
