L.A. Broadcaster Will Buy KJQY-FM for $20 Million

Legacy Broadcasting of Los Angeles has agreed to purchase KJQY, an easy-listening format FM station in San Diego, for $20 million, sources said Thursday.

Legacy Chairman Carl E. Hirsch confirmed that a sale is due to close in May but declined to discuss the price. The seller is Command Communications based in Dallas, which acquired the station in January. A previously announced deal to sell the station to Westwood One, a broadcasting-publishing concern in Los Angeles, fell through.

KJQY, or “KJOY” as it is known, currently has an easy adult listening format. It scored a 5.3% market share in the most recent Arbitron audience survey ratings, ninth best among San Diego FM stations.

Hirsch said that format changes are in the offing for the station to make it appeal to younger audiences but he declined to elaborate.

Last December, Hirsch’s Legacy chain sold all 10 of its stations, including KTWV-FM of Los Angeles, to Group W as part of a complex $727-million merger, one of the largest deals ever in radio broadcasting. Legacy remains a 15% shareholder in Group W. The rest is owned by Westinghouse Electric.

Legacy is also in escrow to buy two other stations, WMJI-FM in Cleveland and WYHY-FM in Nashville from Jacor Communications for $31.25 million. All three station purchases will close simultaneously, Hirsch said Thursday.