Houston Radio: Disney Finds First Buyer

Radio Disney Group has announced the sale of its first station under its announced divestiture plan.

It has agreed to sell KMIC 1590 AM (5Kw) in Houston to DAIJ Media for $3.2 million in cash at closing. Disney bought he station in 1999 for a reported $6M.

KMIC(as in 'Mickey') is the first of the 23 Disney divestitures to be filed at the FCC.

Radio Disney announced last August that it would increase its investment in both digital distribution platforms and music-centric programming, with plans to divest 23 of its 24 radio outlets while retaining KDIS 1110 AM/Los Angeles.