Estrella Media’s Radio Properties Sold to MediaCo in Stock Deal

By Cameron Coats – Radio Ink

In April, MediaCo Holding acquired Estrella Media’s network, content, digital, and commercial operations, with an option to purchase its stations at a later date. Less than a year later, MediaCo is exercising that option, according to a new FCC filing.

The company has finalized an equity purchase agreement for Estrella’s 12 radio stations and TV properties in an all-stock transaction valued at $70,515.38 at $0.01 per share. This follows the initial $120 million in cash, equity, and stock that effectively gave MediaCo operational control.

In Los Angeles, the deal includes Que Buena 94.3/105.5 (KBUA/KEBN/KBUE) and 1480 KVNR, while Que Buena 96.1 (KRQB) in Riverside/San Bernardino also changes hands. In Houston, MediaCo gains La Raza 98.5/101.7 (KTJM/KNTE), El Norte 107.9 (KQQK), and 850 KEYH-AM, while La Raza 93.7 (KNOR), Luna 98.3 (KBOC), and La Ranchera 106.7 (KZZA) expand its presence in Dallas. The acquisition also includes ten full and low-power TV stations. The agreement, dated February 7, remains subject to FCC approval.

The move broadens MediaCo’s portfolio, which previously consisted of WBLS, Hot 97 (WQHT), two digital Hispanic stations in New York City, and the Don Cheto Radio Network, syndicated in 32 markets.

The company has been focused on independence and broadcast expansion, following the appointment of former Spanish Broadcasting System President and COO Albert Rodriguez as interim CEO and President. In November, MediaCo fully repaid a $7.3 million convertible promissory note to Emmis Communications, securing full control under Standard General. It reported Q3 2024 net revenue of $29.86 million, driven by new revenue from the Estrella Media acquisition.

Courtesy of Radio Ink