Lotus Communications announced today they have entered into a definitive agreement with Sinclair Broadcast Group Inc.’s wholly-owned subsidiary, Sinclair Television Group Inc., whereby subject to FCC approval, Lotus Communications Corporation will acquire Sinclair’s radio stations in the Seattle for an aggregate purchase price of approximately $18 million in cash and other considerations.
Lotus First SVP Jim Kalmenson commented, “We are excited to work with the amazing staff at KOMO, KPLZ, and KVI. These are legendary stations which share Lotus’s vision of producing local programming to serve the community, enhance local neighborhoods, and support our home town businesses. Seattle is home to several excellent broadcasting companies who have made this a great radio market.”
Richard A. Foreman Associates. Inc initiated the transaction and acted as exclusive broker representing Sinclair Broadcast Group
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