11-15-13
The L. A. Times is reporting that 10 acres of land where KABC and KLOS sit on South La Cienega Boulevard is up for sale. Cumulus has not set a price. The paper quotes real estate experts who say the site could bring in $200 a square foot, or more than $90 million. A Cumulus spokesperson was quoted in the paper saying, "Cumulus determined that the property was a greatly underutilized asset and decided to sell it in order to free up cash to redeploy in other areas of the business." READ MORE HERE. (picture courtesy L.A. Times)
