Los Angeles AM Sells for Millions

By on Feb, 10 2016 with Comments 0

SoldMulticultural 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.

About The Author: Leslie Stimson has been a reporter for 35+ years, starting in radio news. She’s spent the last 20 years reporting for radio trades.

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