Denver-based KSE Radio Ventures, LLC, a division of KSE Media Ventures, LLC, announced Monday its agreement to purchase three Denver radio stations from Wilks Broadcast Group LLC, an affiliate of The Wicks Group of Companies, L.L.C.
The Denver stations are AC KIMN 100.3 Mix FM, Classic Hits KXKL 105.1 FM, and Country KWOF 92.5 FM. Terms of the transaction were not disclosed.
“When these stations became available and were offered to us, we thought they would be a great addition to our media holdings,” said Matt Hutchings, President and CEO of KSE Media Ventures.
“We are pleased to announce the sale of our Denver radio stations to KSE Radio Ventures,” said Jeff Wilks, Chief Executive Officer of Wilks Broadcasting.
“We think the Kroenke media group will be a great owner for these assets given their experience in the Denver market.”
The transaction is subject to customary conditions, including regulatory and other approvals.
KSE Radio Ventures, LLC and KSE Media Ventures, LLC KSE Radio Ventures, LLC is a division of KSE Media Ventures, LLC, a Denver-based company that owns and operates multiple media businesses, including Altitude Television Network, Outdoor Sportsman Group of companies (Outdoor Channel, Sportsman Channel, and World Fishing Network, as well as 15 publications, 17 websites, and other outdoor related business), Skycam, Winnercom, and their television network operations center, based in Centennial, Colorado.
Unconfirmed reports put the worth of the deal around $50M. RadioInsight reports Wilks purchased the three stations from CBS for $19.5 million in 2008.