Days before the dawn of the new decade, the TEGNA group sold the KFMB radio properties for $5-million to Local Media San Diego.
According to radioINSIGHT.com, the deal does not include rights to continue using the 78-year-old call letters, nor does it include any of the property at Santee (AM transmitter), Kearny Mesa (studio), or Mt. Soledad (FM transmitter).
Local Media San Diego currently leases three Mexican-licensed FM stations: CHR “Z90” 90.3 XHTZ, Alternative “91X” 91.1 XETRA-FM, and Rhythmic AC “Magic 92.5” XHRM.
TEGNA bought the three KFMB stations in December 2017 for $325-million and owns no other radio broadcasting properties, so the radio sale was expected.
It’s going to be interesting watching what happens with KFMB-AM since that entity has not turned a profit in recent years. Technically, the KFMB-AM Harris DX-50 transmitter is nearly 30-years-old. Its programming leaves it at the bottom of the San Diego market Nielsen ratings list.
Colleagues speculated that iHeartMedia might buy the KFMB radio properties, but they own the maximum number of FM stations allowed by the FCC for the market and are financially strained as a group.
Apparently, KOGO-AM has plans to multiplex on the KFMB-AM towers in Santee, though the 300-foot towers are electrically short for 600 kHz.