Another The Industry Dot Biz Update EXCLUSIVE
Your Urban Entertainment Industry Resource
It appears that Radio One is doing a bit of Spring Cleaning in the Fall… Besides the recent sale of Miami’s WTPS, a source has informed The Industry Dot Biz Updates that Radio One is very close to selling Los Angeles’ KRBV. The corporation’s $425 million dollar purchase (considered by many to be extremely overpriced) has simply not garnered a profit and the company has made no secret that this one station has managed to be a constant tug on the cash flow of the entire corporation as the ratings and the station’s position in the Number two market dwindle – Arbitron (12+ 6A to Mid) dove to a 1.2 for the summer book. The station enjoyed modest ratings success under Radio One ownership in the early days (up until 2004) but the competitive onslaught of the historic station KDAY returning to the airwaves and market staple KJLH serve to continue to injure KRBV’s (formerly KKBT) strength in the market. (KJLH was a 1.3 and the newer outlet KDAY was a .8 in the same summer 07 book). The station’s most recent format flip to Urban AC and the hiring away of KJLH star Cliff Winston, vet John Monds (both early 90’s Evergreen KKBT alumnus) and consultant Barry Mayo have helped to show a spike in the ratings over the last few books nonetheless. Surprisingly, the potential buyer is not a radio corporation… but a Black politician? The Industry Dot Biz will keep you posted on any further developments.
