WASHINGTON, Jan. 7, 2014 (GLOBE NEWSWIRE) -- The USHCC applauds Meruelo Media, a leading minority-owned company in Southern California, for announcing its acquisition of KDAY 93.5 FM, Los Angeles' original hip-hop and R &B radio station. Meruelo Group, the umbrella company for Meruelo Media, is owned by accomplished businessman Alex Meruelo, who has founded firms in numerous industries, including banking and financial services, hospitality, construction, engineering and real estate.
"The USHCC celebrates Meruelo Media's acquisition of this radio station. This recent purchase allows the company to engage a more diverse audience, attract advertisers, promote cross-marketing, bolster brand loyalty, and further penetrate the mainstream English-speaking market – all while bringing jobs to the city of Los Angeles," said USHCC President & CEO Javier Palomarez. "We commend Mr. Meruelo for his visionary leadership, and are delighted to highlight success stories in our business community and bring American job creators like Mr. Meruelo to the forefront of the national discussion."
Meruelo Media officially began operating KDAY on January 1, 2014. Mr. Meruelo says he plans to go beyond saving KDAY, but restoring and eventually expanding it into an iconic LA symbol, tantamount to the Dodgers and the Hollywood sign.
"Meruelo Media's newest acquisition is happening at the right place, and at the right time. Los Angeles is home to nearly 5 million Hispanics -- roughly 10% of the total Hispanic population in the United States -- and is a major hub of mainstream broadcasting and entertainment," said Marc Rodriguez, USHCC chairman of the board. "We are excited to see how the company's increased presence in this city will help mainstream the contributions of Hispanics in America and look forward to reporting on the Meruelo Group's future successes."
About the USHCC
Founded in 1979, the USHCC actively promotes the economic growth and development of entrepreneurs and represents the interests of nearly 3.2 million Hispanic owned businesses nationwide that contribute in excess of $468 billion to the American economy. It also serves as the umbrella organization for more than 200 local chambers and business associations throughout the United States and Puerto Rico. For more information, visit www.USHCC.com.
Valentina Pereda USHCC Director of Communications 202-489-2932