A definitive agreement to sell KRTH-AM and...
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A definitive agreement to sell KRTH-AM and FM in Los Angeles for $86.6 million to Beasley Broadcast Group of Goldsboro, N.C., was announced by owner RKO General. The deal had been reported unofficially last August. Competing applicants for licenses to operate the stations agreed to accept $30 million of the proceeds to settle claims before the Federal Communications Commission, which must approve the deal. RKO will continue to own and operate the stations until the sale is closed, which is expected by early spring.
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