Entravision Communications Corporation announced that it has entered into an agreement to acquire KXPK-FM in Denver, CO from Emmis Communications Corporation for approximately $47.5 million in cash. KXPK-FM will air Entravision’s Radio Tricolor, a Mexican country-style format, targeting Adults 18-49. The acquisition is expected to close in early May 2002.
Entravision currently owns KJMN-FM and KMXA-AM, as well as the Univision and Telefutura television stations serving Denver, creating compelling cross-promotional opportunities for local and national advertisers targeting the Hispanic market. Denver is the 12th largest Hispanic market in the U.S., up from number 14th in 1990.
Walter Ulloa, Chairman and CEO of Entravision, commented, “Denver has proven to be a key market in Entravision’s strategy of targeting Hispanics in the most densely populated and fastest growing U.S. markets. With the acquisition of KXPK-FM we significantly strengthen our competitive position in Denver as the leading Spanish-language radio operator by dramatically improving the reach and sound quality of our signal. Radio Tricolor Mexicanisima is our most successful format and its move to the full-market KXPK-FM signal means it will broadcast one of the most powerful radio signals in the market.”