Beasley Media Group announced Thursday that it entered into an asset exchange agreement with Audacy, Inc. whereby Beasley will exchange the radio station KDWN 720AM and the translator for 101.5 FM for Alternative KXTE 107.5 FM, in Las Vegas.
As part of the agreement, longtime Las Vegas-based syndicated morning personalities Dave and Mahoney will continue to be heard weekdays from 6 a.m. – 10 a.m. on KXTE-FM under Beasley’s ownership.
The asset exchange highlights Beasley’s focus on premium local programming and content and is complementary to the Company’s four other radio stations and digital operations in Las Vegas, the 31st largest designated market in the country.
Commenting on the proposed transaction, Caroline Beasley, Chief Executive Officer said, “Throughout Beasley Broadcast Group’s 61-year history, we have actively managed our station portfolio with the goal of serving the communities where we operate with the best local programming and brands, diversifying our operations, managing risk and improving financial results. The agreement to exchange KDWN AM/FM translator for KXTE-FM addresses all of these strategic objectives and upon completion, will complement our Las Vegas market presence and content with five strong signals in the market.”
The transaction is expected to close in the fourth quarter of 2022 subject to Federal Communications Commission approval and other customary closing conditions.
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