Bring Back Movin 93.9FM To Los Angeles, Home Of Rick Dees
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Move to Spanish comes as Mexico's Grupo Radio Centro has struck a deal with KMVN owner Emmis to operate the radio station under a lease management agreement. (Because it's a Mexican company, it can't own a U.S. station outright.)
Here is the press release:
Indianapolis -- Emmis Communications Corporation (Nasdaq: EMMS) today announced it has entered into a long-term Local Marketing Agreement (LMA) for KMVN-FM (93.9) with one of Mexico's leading broadcasting companies, Grupo Radio Centro, S.A.B. de C.V. (NYSE: RC).
The LMA for the Los Angeles radio station will start on April 15, 2009 and continue for up to seven years, for $7 million a year. At any time during the LMA, Grupo Radio Centro (GRC) has the right to purchase the station for $110 million. At the end of the term, Emmis has the right to require GRC to purchase the station for the same amount.
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Please help us bring back a radio station that contained good content, and that was safe for the family to listen to.
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