Connoisseur Media announced that it has entered into an agreement to sell its 94.5 FM signal licensed to Gilroy, California (currently broadcasting as “KBAY-FM”) to K-Love, Inc. for $2 million. The KBAY-FM call letters and intellectual property will be retained by Connoisseur. The transaction is pending regulatory approval by the FCC and is expected to close in early fall of this year.
This sale reflects Connoisseur Media’s ongoing plan to refine its portfolio and best utilize its assets in priority markets like the Bay Area. The sale is a continuing element of the strategy established with the acquisition of the Alpha Media stations in September of last year, and the Bonneville San Francisco acquisition last month.
Connoisseur’s sale of the frequency does not include the current operation of the format or KEZR-FM, Connoisseur’s flagship station in San Jose.
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