Meruelo Group, the company owned by billionaire realtor, restaurateur, casino owner and FM radio investor Alex Meruelo, announced April 15 that it entered into agreement to purchase KLOS-FM from Cumulus Media Inc.

The station whose motto is the “Rock of Southern California” and plays a mostly classic rock playlist, is Meruelo’s third Los Angeles-area radio purchase, and most popular station in his growing portfolio, based on Nielsen ratings.

Meruelo also owns KDAY-FM and KPWR-FM, both rap stations.

The sale of West Adams-based KLOS signals Cumulus’s departure from the Los Angeles radio market dominated by iHeartMedia Inc. and Entercom Corp. The Atlanta-headquartered company has been gradually selling off stations since leaving Chapter 11 bankruptcy last June.

Media and entertainment reporter Matthew Blake can be reached at (323)556-8332 or [email protected]