KDAY Is Saved Again (For Now)
You can breathe a sigh of relief: Los Angeles' old school hip hop station has been saved (again).Back in April, news broke that Magic Broadcasting, the company that owns 93.5 KDAY, was planning on selling the station to RBC Communications. That company was planning on flipping the hip hop station to a Chinese language format, which prompted all sorts of eulogies across the internet. The FM station used the call letters of the AM station that put West Coast gangsta rap on the map and launched the careers of Dre and Snoop.
But sources told the LA Weekly that RBC ended up pulling out of the deal, and the FCC had yet to approve the sale. No one is saying the deal is officially dead but KDAY's general manager Zeke Chiadez didn't exactly deny the reports: "We have been told by the ownership group that they will be getting back to us on any details soon, but I don't have an official statement on whether that's true."
This isn't the first time a deal fell through to buy KDAY in its latest FM incarnation, and we're sure it won't be the last. Its value has declined since the last sale. There was an attempt to sell the station in 2010 to SoCal935, Inc for $35 Million, but the deal never closed. It was reported that this round RBC Communications was offering $19.5 million.