Los Angeles AM Sells for Millions
Multicultural Radio Broadcasting wants to sell KYPA(AM), Los Angeles to Woori Media Group.
The agreed-on price is $6.2M cash, less a $200,000 deposit. A tower lease agreement of $6,500/month is part of the transaction.
KYPA is a Class C AM transmitting 1,000 watts day/night using a directional antenna on 1230 kHz.
Seventeen of the parties with interests in Woori Media group are U.S. citizens and two — Hee Nam Song and Gum Ok Woo — are South Korean citizens and they tell the FCC in the paperwork they each have an 11% stake in Woori.