$45-Million for KROQ-FM Record for a Radio Station

If approved by the Federal Communications Commission, this week’s announced sale of Pasadena pop music station KROQ-FM will set a record: The $45-million price tag is the highest ever for a single radio station.

New York-based Infinity Broadcasting, which owns seven other stations, agreed to buy KROQ from Mandeville Broadcasting just two weeks after selling two other Southern California radio stations. In that deal, Eric/Chandler Communications reportedly agreed to pay Infinity $12.2 million for San Diego stations KCBQ-AM and FM.

Before the KROQ deal, the highest price ever paid for a radio station was when Noble Broadcasting sold KJOI-FM, another Los Angeles station, last fall for $44 million.

There are no plans to change KROQ’s successful rock format, which has consistently placed it among the 10 most-listened-to radio stations in Los Angeles, according to Arbitron Ratings Co.

“The station is successful as is, so our plans are to continue to run it as is,” Infinity President Mel Karmazin said.

Karmazin, who said he has been negotiating with Mandeville President Ken Roberts since January, said selling the San Diego stations and the purchase of KROQ gives his company radio stations in seven of the top 10 markets in the country: New York, Chicago, Boston, San Francisco, San Jose, Houston and Los Angeles.

Six months ago, Roberts told The Times that he wouldn’t sell the station even though he had been offered a then-record sum of $25 million. He said this week, however, that he agreed to the sale in order to “enhance the station.” He said group ownership would give KROQ better promotion and access to national advertising.

As part of the deal with Infinity, Roberts will remain as a paid consultant to the station.