Done deal in the City of Angels
Liberman Broadcasting has cashed in its robust Los Angeles AM station, KHJ-AM, and the new owner will be serving millions of Catholics in the market. Broker: John Saunders (buyer).
The buyer is IHR Educational Broadcasting. IHR stands for Immaculate Heart Radio. It’s headed by Doug Sherman.
The station is a Class B on 930 kHz with 5 kW-U, DAN. It has excellent coverage of the market during the day and decent coverage at night.
According to Saunders, it is within earshot of 14 million people, 4.6 million of which are members of the Catholic faith. Some members of RadioDiscussions.com took issue with those numbers, stating it was more like 8 million by day and 5 million by night. It’s a lot of people either way.
The price was $9.75M, $500K of which was in the form of a promissory note.