7-16-13
Hubbard will pick up 10 stations from privately held Sandusky Radio. The acquisition expands Hubbard Radio by adding five radio stations in Seattle and five in Phoenix. Hubbard Radio Board Chair Ginny Morris says, ?This is an exciting opportunity to expand Hubbard Radio into two Top 20 markets. We have known and respected the Rau/White family, Sandusky?s owners, for many years. We admire what they have accomplished and we are honored that they would agree to sell us these established stations. We are committed to maintaining the dedication to excellence and to community that Sandusky has made such an important part of their radio operations.?
The five Seattle stations involved in the transaction are: KIXI-AM 880; 92.5 KQMV-FM; 1150 KKNW-AM; 106.9 KRWM-FM; and 98.9 KLCK-FM. The five Phoenix stations are: 100.7 KSLX-FM; 97.9 KUPD-FM; 93.3 KDKB-FM; 1440 KAZG-AM; and 1060 KDUS-AM.
Bruce Reese, president and chief executive officer of Hubbard Radio, stated: ?Hubbard is excited about the chance to add these great stations to our existing operations in Chicago, Washington, DC, Minneapolis/St. Paul, St. Louis, and Cincinnati. Sandusky runs very successful radio stations, and we plan on continuing that precedent. We look forward to working with our new colleagues.?
Through the acquisition, Hubbard Radio will add 65 to 70 full time employees in each of the two markets. Reese said he expects no programming or personnel changes for any of the acquired stations. Hubbard Radio currently employs approximately 600 full-time employees.
Norman D. Rau, president of Sandusky Radio says: ?Hubbard Radio, a private family-owned business, holds very similar values as our business. Hubbard has nine family members directly involved in the Hubbard companies. We believe the future of our listeners, employees, and our customers could not be in better hands. As a significantly larger broadcasting company, Hubbard can give the Sandusky stations a potential for growth and scale that Sandusky on its own just could not give them.?
The sale will end Sandusky?s 36-year history as a radio broadcaster and allow it to concentrate on the continuing digital transformation of its local print and online newspaper and marketing franchises.
(7/16/2013 1:21:17 PM)
Not sure it is significant, but after Hubbard aquired the Bonneville properties, this transaction will have them competing with Bonneville in two of the four markets where Bonneville still operates stations.
Add a Comment | View All Comments Send This Story To A Friend
