LOS ANGELES, CA, UNITED STATES, June 3, 2021 /EINPresswire.com/ — Lotus Communications announced today that they have entered into an agreement with Sinclair Broadcast Group, Inc.â€™s wholly-owned subsidiary, Sinclair Television Group, Inc., whereby subject to FCC approval, Lotus Communications Corporation will acquire Sinclairâ€™s radio stations in the Seattle, Washington metropolitan area for an aggregate purchase price of approximately $18 million in cash and other consideration. The deal includes News Radio KOMO 1000 AM & 97.7FM, KPLZ â€œStarâ€� 101.5 FM, and Talk Radio KVI 570 AM.
Lotus First SVP Jim Kalmenson commented, â€œWe are excited to work with the amazing staff at KOMO, KPLZ, and KVI. These are legendary stations which share Lotusâ€™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.â€�
Richard A. Foreman Associates, Inc initiated the transaction and acted as exclusive broker representing Sinclair Broadcast Group
Lotus Communications is one of the nationâ€™s largest privately-owned broadcasting companies, founded in 1962 with the acquisition of legendary Spanish station KWKW by its current Chairman Howard Kalmenson. Lotus is based in Los Angeles, California and owns 44 radio stations concentrated in the Western States as well as a digital marketing entity, and ecommerce sites.
Contact Information: Jim Kalmenson – email@example.com 323-878-1223
Lotus Communications Corp.
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