E.W. Scripps to sell radio stations in Idaho, Arizona to Lotus Communications
The E.W. Scripps Company has reached an agreement to sell eight radio stations in Boise, Idaho, and Tucson, Arizona, to Lotus Communications Corp. for $8M. California-based Lotus Communications is purchasing KMXZ (94.9 FM), KFFN (1490 AM and 104.9 FM), KQTH (104.1 FM) and KTGV (106.3 FM) in Tucson and KJOT (1051. FM), KQXR (100.3 FM), KRVB (94.9 FM) and KTHI (107.1 FM) in Boise. In its portfolio of stations, Lotus Communications operates four radio stations in the Tucson market and will immediately divest of KQTH and KTGV in order to meet the Federal Communications Commission rules that cap station ownership in single markets. The transaction is expected to close in the fourth quarter.