Spanish Broadcasting System Buys KROI (Praise 92.1)/Houston From Urban One

 Spanish Broadcasting System Buys KROI (Praise 92.1)/Houston From Urban One






Adds Houston FM




The previously unnamed buyer for RADIO ONE’s spinoff of Gospel KROI (PRAISE 92.1)/SEABROOK-HOUSTON, TX is SPANISH BROADCASTING SYSTEM.In an SEC filing on THURSDAY (4/20), SBS disclosed that it has inked a deal to buy KROI for $7.5 million. The deal has not yet landed in the FCC database as of early FRIDAY morning. KROI was one of two spinoffs — the other being Classic Country KTHT (COUNTRY LEGENDS 97.1)/CLEVELAND, TX-HOUSTON — for which RADIO ONE filed to send to SUGARLAND STATION TRUST, LLC, a divestiture trust with SCOTT KNOBLAUCH as trustee, for sale to comply with ownership caps after acquiring KTHT and three other stations from COX MEDIA GROUP for $27.5 million. At that time, URBAN ONE told the Commission that it has “entered into an agreement to sell KROI to a minority-owned broadcaster that is a new entrant to the HOUSTON market.”



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