CBS Radio announced Monday (Aug. 10) it will sell four radio stations in Portland, Ore. to Alpha Broadcasting for $40 million cash. With the transaction, CBS Radio will exit the No. 23-ranked market.
Alpha, a new entity formed by veteran broadcaster Larry Wilson and Endeavour Capital in Portland, which owns KXL-AM and KXTG-FM, will have six stations in the market.
The sale of Adult Album Alternative KINK-FM, Country KUPL-FM, Active Rock KUFO-FM, and Talk KCMD-AM, is part of the CBS Radio’s continuing strategy to focus on the nation’s largest markets. In the last eight months, CBS Radio has announced three deals to sell 12 stations. More…