January 2, 2015

Buckley Radio Divests Bakersfield/Merced, CA Clusters

Deal with Alpha Media, LLC CLOSED

In a transaction closed today, Buckley Broadcasting of California, LLC and Buckley Communications, Inc. have sold their Bakersfield and Merced, California clusters to Alpha Media, LLC.

The stations involved are:
Bakersfield Cluster

Merced Cluster

On October 10, Alpha Media of Portland, Oregon announced that they entered into a definitive agreement to purchase the radio stations from Buckley Broadcasting of California, LLC and Buckley Communications, Inc. Buckley Broadcasting and Buckley Communications own six radio stations; four stations located in Bakersfield, California which include KKBB(FM), KLLY(FM), KNZR(AM) and KNZR-FM and two radio stations in Merced, California; KHTN(FM) and KUBB(FM).

Larry Wilson, Chairman of Alpha Media will add the Buckley clusters to the seventy stations (which includes two under LMAs) currently in the Alpha Media portfolio when all pending deals are completed, bringing the total number of stations owned by Alpha Media to seventy-four. Commenting on the acquisition, Wilson said,

"The Buckley clusters in California will be a great addition to the west coast footprint. Merced is a unique city with a thriving arts scene and adventurous community. As one of the fastest growing regions in the nation, Bakersfield is a rich and vibrant city full of live and local opportunities."

Joseph Bilotta, President and CEO of Buckley Broadcasting and Communications said, "In Alpha we will pass the mantle and stewardship of our broadcast facilities in Bakersfield and Merced, CA. We have owned these wonderful stations for over 20+ years and our employees, audiences and advertising partners will benefit from the energy and considerable resources of this multi-dimensional media and entertainment company headed by Larry Wilson.

Dick Foreman of Richard A. Foreman initiated the transaction and served as exclusive broker in the sale.