Clear Channel Sells Santa Barbara Stations

Confirming rumors that circulated around Santa Barbara for
weeks, Clear Channel officially announced Wednesday that it will be
selling its local stations to Rincon Broadcasting, LLC for $17.3
million.

Owned by Ventura-based Point Broadcasting, Rincon will assume
control of KTYD (99.9 FM), KSBL (101.7 FM), KIST (107.7 FM), and
KSPE (94.5 FM), KTMS (990 AM), and KBKO (1490 AM) on Jan. 16,
pending approval of the Federal Communications Commission. Point
Broadcasting is owned by the Malibu-based Gold Coast Broadcasting,
LLC, which also owns stations in Fresno, Kernville and Mojave.

In a press release, Gold Coast Broadcasting president John
Hearne said that “this acquisition represents a wonderful
opportunity for us to expand into new markets along the Central
Coast of California. We are committed to providing the best in
local news, entertainment and public service to Santa Barbara
County, and we are excited to be in a position to serve its
wonderful communities.”

While employees of these radio stations had been aware of the
impending sale, many were left in the dark as to whether the
changing of the ownership would mean losing their jobs. Matt
McAllister, host of KTYD’s morning show (whose crew is pictured),
said he believed that the majority of staff would remain. “I’m
psyched,” McAllister said about the change. “First off, I’m happy to be separated
from the Clear Channel name. It has a negative stigma and a lot of
people have a negative reaction when they hear it.” McAllister said
he was also pleased that Rincon Broadcasting would be locally based
and that he and his colleagues would have potentially better access
to their superiors. He elaborated that although he had not met the
corporate bosses of KTYD’s two previous owners — the San Antonio,
Texas-based Clear Channel, and before that JCore, which purchased
the station in the early 90s — he had already met Hearne and judged
him to be a boss that seemed committed to strengthening Santa
Barbara radio.

“On a personal note, I have surfed the Central Coast for 45
years, and have a great love for Santa Barbara County and its
magnificent coastline,” Hearn said in the press release.