LA’s Power 106 Changes Hands
Are you a Power 106 listener? The popular radio station that made its name on spinning hip-hop has been sold. After 32 years under the guidance or Emmis Communications, Power 106 (KPWR) has been sold to the Meruelo Group for a cool $82.75M.
The question now is whether the new owners will change the formatting. Power 106 does pretty well against its competition. It’s closest rival is iHeartRadio’s Real 92.3 (KRRL). Both focus on a Top 40/Urban sound. Both claim a huge percentage of the listening audience. My guess is that Power 106 was sold because Emmis Communications couldn’t see itself pushing the station further along. Sometimes you just have to let something go in order to see it succeed. We’ll see what the Meruelo Group does with it from here on in.
Read more about the sale here.
