With the sale to private equity recently completed, Clear Channel is placing the FCC-mandated stations in the recently formed Aloha Station Trust, where a third-party company, Media Ventures, will have responsibility for marketing them.
When it first acquired some of these stations, Clear Channel received special FCC permissions to avoid violating ownership rules, but the FCC said it would not renew the permissions, necessitating the current sale.
Among the FCC-mandated stations for sale to satisfy the trust are WALK, in Nassau-Suffolk, Long Island, KCNL, KUFX, and KSJO in San Jose, KFSO in Fresno, KYRK in New Orleans, WALC in Charleston, WROO in Jacksonville, WJRR in Orlando, WAKS in Cleveland, and WURH in Hartford.
The DOJ-mandated stations are being sold separately, and are not in the trust. Clear Channel also has the option of swapping these stations with another radio group. They include WOFX and WNNF in Cincinnati or KHMX and KLOL in Houston. Previously, the company sold stations in San Francisco and Las Vegas to comply with the DOJ conditions.
The 60 FCC- and DOJ-mandated stations for sale are different from the 448 stations that Clear Channel put up for sale last year, of which 173 were withdrawn from the market in the first quarter. At the end of the first quarter, 52 of the 275 stations remaining in this group were still unsold.