Christian Church Buys Disney’s Last Radio Station

A 3D-printed Disney logo in front of the ESPN+ logo in a photo illustration taken on July 13, 2021. (Dado Ruvic/Illustration/Reuters)

The Walt Disney Company has sold its last radio station, KRDC, to religious broadcaster Calvary Chapel Costa Mesa for $5 million.

Disney filed an application with the Federal Communications Commission (FCC) to transfer the radio station’s license to the religious broadcaster on Monday, reported The Desk.

The purchase puts Calvary Chapel Costa Mesa into the AM radio market; the church has operated WKVE-FM since purchasing that station in 1985.

According to Radio and Television Business Report, KRDC covers all southern California airwaves.

KRDC’s signal will be added to Calvary Chapel Costa Mesa’s established KWVE airing from the Orange County FM station.

KRDC was once the original station of Radio Disney, which started in 2003 through until 2017, when it became Radio Disney Country.

The two children-targeted networks ceased operations in early 2021, and Disney returned the station to a sports format, carrying its ESPN Radio network.

Disney initially shifted its programming to satellite and online platforms, The Desk reported. The company announced the sale of all of its radio stations as far back as 2014, although it left KRDC (previously known as KDIS) out of that plan.

Disney has been selling off its other radio stations since 2021, with sales of its sports AM stations in New York, Los Angeles, and Chicago going to Good Karma Brands for $15 million.

Disney’s focus now is on direct-to-consumer streaming video on Disney Plus and Hulu, pushing the company to divest itself of other media like broadcast radio.

CFO Steps Down

Meanwhile, Disney announced last week that Senior Executive Vice President and Chief Financial Officer Christine McCarthy is stepping down and will take a medical leave of absence.

“Although I am leaving the CFO role, I look forward to helping with the transition and will always be rooting for the success of my extended Disney family, who have shown time and again that determination, teamwork, and the pursuit of excellence are an unstoppable combination,” McCarthy said in a press release.

McCarthy, a close confidant of Iger, who had served as Disney’s financial chief for eight years, but disagreed over the strategy, including how the company spends money on content and a restructuring plan to streamline the entertainment giant, a person familiar with the matter told The Wall Street Journal.

Iger said McCarthy is “one of the most admired financial executives in America, and her impact on The Walt Disney Company during 23 years of dedicated service cannot be overstated.”