What did KLAC (570 AM) in Los Angeles pay for the broadcast rights to Dodgers games? If you’re thinking an arm and a leg, you’re pretty close:
KLAC will be spun into Los Angeles Broadcasting Partners, a new holding company held by the two groups. iHeart [Media] will retain 51% of the ownership of the station as well as control of its day-to-day operations. The Dodgers through its LARadioCo will hold 49% of the station.
In case you weren’t paying attention, iHeartMedia is the group owner formerly known as Clear Channel.
And the Dodgers get one more chip:
As part of the deal, iHeart cannot launch another Sports station in the Los Angeles market for the next fifteen years without the written consent of the Dodgers.
Oh, KLAC is also carrying the NBA’s Los Angeles Clippers.