The change comes by way of a more than $19 million sale from KDAY owner, Magic Broadcasting, to RBC Communications.
Radio Insight reports:
Magic Broadcasting has agreed to sell Classic Hip-Hop “93.5 KDAY” KDAY Redondo Beach/Los Angeles and KDEY Ontario/Riverside to RBC Communications for $19.5 Million.
Look for a flip to a Chinese format to accompany the sale. Phoenix Satellite Television, a British Virgin Islands based company which operates 6 cable networks in China owns a 20% stake in RBC. Anthony Yuen holds the other 80% through his RBC Investments LLC.
This is the second attempt made to sell the KDAY/KDEY combo. A 2010 sale of the stations to SoCal935, Inc for $35 Million never closed.
KDAY’s resurrection came after the death of its predecessor of the ’70s and ’80s, KDAY AM 1580.
The new KDAY played a variety of R&B and Hip-Hop, but became prominent as an outlet for West Coast music…and a spot for Suge Knight to threaten people.