Angels owner buys Spanish-language radio station
LOS ANGELES -- An investment partnership led by Angels baseball team owner Arte Moreno announced Saturday that it has agreed to buy the nation's largest Spanish-language AM radio station.
The investors will buy Radio 830 KMXE for an undisclosed sum.
The group will "start running the station immediately" while awaiting approval of the deal from the Federal Communications Commission, said investor spokeswoman Debbie Mitchell.
Messages left for the station and its current owner, Radiovisa LLC, were not immediately returned Saturday.
Moreno bought the Angels in 2003, becoming the first Hispanic majority owner of a Major League Baseball team.
KMXE, a 50,000-watt station based in the San Fernando Valley, provides 24-hour news, talk and sports programming that includes live coverage of USC football, NASCAR and the Los Angeles Galaxy soccer team.
The new owners will add Angels games and other sports in both Spanish and English to reach the Hispanic market, said Angels President Dennis Kuhl, another partner in the acquisition.
"It will also provide an opportunity for advertisers to reach an audience with a buying power of more than $105 billion," Kuhl said in a statement.
Copyright 2006 by The Associated Press
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