One of radio’s biggest deals of 2023 has crossed the finish line. Urban One has closed a $27.5 million deal to buy country “93-Q” KKBQ-FM, the classic rock “Eagle 106.9 & 107.5” simulcast of KHPT-FM and KGLK-FM, and classic country “Country Legends 97.1” KTHT-FM in Houston as seller Cox Media Group exits radio’s sixth biggest market. The transaction will give Urban One three of the market’s top 10 stations.
Urban One already owns adult R&B “Majic 102.1” KMJQ, R&B “97.9 The Box” KBXX, and gospel “Praise 92.1” KROI in Houston. The deal would give the company a total of seven FM stations in the market. To comply with FCC ownership limits, Urban One has struck a pair of deals to spin off two stations into the Sugarland Station Trust. In approving the deal, the FCC has given the Sugarland Trust two years to sell the two stations. But the trust will only be a temporary home for the pair as it has already secured buyers.
Educational Media Foundation has filed a $3.1 million deal to buy KTHT from Urban One. The Christian radio giant already owns contemporary Christian “Air1” affiliate KHJK (103.7) in the Houston market.
And Spanish Broadcasting System has signed a deal to buy KROI from Urban One for $7.5 million. The purchase marks a return to Houston for SBS, which previously owned a television station there.
With its retreat from Houston, Cox Media Group still owns radio stations in nine markets, including Atlanta, Miami, Nassau-Suffolk, Tampa, San Antonio, Orlando, Jacksonville, Dayton, and Tulsa.