Stan Kroenke’s KSE Radio Ventures LLC will purchase three Denver FM radio stations for the Arsenalised sum of an ‘undisclosed fee’.
The Arsenal majority shareholder will purchase KIMN (“Mix 100”), KXKL (“Kool 105”), and KWOF (“92.5 Wolf”) from Wilks Broadcast Group LLC who are an affiliate of The Wicks Group of Companies, L.L.C.
Speaking in a statement about the venture, Matt Hutchings, president and CEO of KSE Media Ventures, said “When these stations became available and were offered to us, we thought they would be a great addition to our media holdings.”
To give you some idea of the possible cost, the three stations were originally purchased for $19.5m from CBS by Wicks in 2008.
Perhaps that’s what he needed the £3m for.