Four Reno radio stations sold by NextMedia
Four Reno radio stations will be sold as part of an eight-station, $34 million cash deal.
Denver-based NextMedia said last week it sold the four stations KJZS (“Smooth Jazz”), KRZQ (“Alternative”), KURK (“The Rock”), and KTHX (“The X”) to Wilks Broadcast Group LLC of New York City.
Along with the Reno stations, the package included four stations in Lubbock, Texas.
NextMedia didn’t break out how much of the $34 million total for the eight stations was allocated to the Reno properties.
In a statement,Wilks Broadcast Group President Jeff Wilks said the company was drawn to the Reno stations because the region’s market is strong.
NextMedia, meanwhile, said it sold the stations as part of a strategy to raise cash by selling assets that it didn’t consider to be part of its core business.
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