Cox Radio to Sell Its Last 2 L.A. Stations

Cox Radio Inc. said it agreed to sell its two remaining Los Angeles radio stations, KACE-FM and KRTO-FM, to Hispanic Broadcasting Corp. for $75 million in cash. Atlanta-based Cox Radio said it will sell the two stations to Dallas-based Hispanic Broadcasting, the largest Spanish-language radio broadcaster in the U.S., ending Cox’s 25 years in Los Angeles. The sale is expected to close in the fourth quarter. After the close of all its announced transactions, Cox will own, operate or provide sales and marketing services for 72 radio stations clustered in 15 markets, Cox said. The announcement was made after the close of trading. Cox closed up 25 cents at $60.50 on the New York Stock Exchange, while Hispanic Broadcasting closed up $1 at $82.31 on Nasdaq.