SBS Sells San Francisco Station.

Spanish Broadcasting System, Inc. announced that it has signed a definitive asset sale agreement to sell its San Francisco, California, radio station to Three Point Media-San Francisco, LLC, an Illinois limited liability company, for $30 million in cash.

Bruce Buzil and Chris Devine are the principals of Three Point Media-San Francisco, LLC. KPTI-FM currently features an English dance format. The sale is subject to FCC approval.

Raul Alarcon, Chairman, President and CEO of Spanish Broadcasting, commented, “I am pleased to announce the sale of our San Francisco station, which completes our strategy of redeploying certain non-strategic stations in order to strengthen our leading clusters in the nation’s largest Hispanic markets. We intend to invest the cash proceeds from this sale to fund our growth in Los Angeles, the nation’s largest Hispanic market.”