Reliance Capital will sell eight radio stations.
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The firm said its John Blair & Co. subsidiary has signed a definitive agreement to sell the stations to Sconnix Broadcasting Co. for $152 million in cash. The stations being sold are KVIL-AM and FM in Dallas, WIBC-AM and WEAG-FM in Indianapolis, WFLA-AM and WPDS-FM in Tampa, Fla., and WHDM-AM and WZOU-FM in Boston. Reliance said all of Blair’s non-Spanish-language broadcast properties are involved. “Our focus is now on Spanish-language television through our Telemundo Group, television and radio representation, and production and syndication of English and Spanish television programming,” the firm said.
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