MediaCo Holding Inc., a publicly traded company on Nasdaq whose assets include two FM radio stations in New York, has acquired Estrella Media’s network, content, digital, and commercial operations.
To be clear, an asset purchase agreement with required FCC approval has not been drawn up, and Estrella Media will own its current roster of television and radio stations — for now. While the relationship is akin to a shared serves agreement seen across the broadcast media landscape, Mediaco will have an option to buy the radio and TV stations at a future date.
With the deal, which closed yesterday, an executive leadership change is happening at Burbank, Calif.-based Estrella Media.
