HBC To Acquire KNGT-FM In Sacramento.

Hispanic Broadcasting Corporation announced that it has entered into a definitive agreement to acquire the assets of KNGT(FM), a radio station operating on 94.3 MHz, licensed to Jackson, Calif., and serving the Sacramento, Calif. metro area, from First Broadcasting Investments, L.P. for $24.0 million in cash. The acquisition also includes a broadcasting tower presently leased by HBC in the Dallas/Fort Worth area. The closing of the transaction, which is subject to regulatory approval, is expected to occur within the second quarter of 2003. McHenry T. Tichenor, Jr. commented, “We are pleased to be able to expand our presence in the vibrant and fast-growing northern California region with this fine facility serving Jackson, Sacramento and surrounding communities.”