5-28-14
Midwest Communications and South Central Communications have agreed on a deal that, pending FCC approval, would transfer ownership of nine radio stations owned by South Central to Midwest. Included are Evansville, Indiana stations, WIKY, WSTO, WABX and WLFW, Nashville, Tennessee stations, WJXA and WCJK and Knoxville, Tennessee stations, WJXB, WVRX and WIMZ. Midwest CEO Duke Wright (pictured) said, "We feel extremely fortunate to be acquiring one of America's best run radio groups. As both South Central and Midwest are entirely family owned with both families being in the radio business for well over 50 years we feel there is a lot of commonality between the companies. I'm certain we will have much to share with each other."
On the planned transfer South Central CEO, JP Engelbrecht said, "We have found a great steward for our radio stations and people in Midwest Communications. Their CEO, Duke Wright, and his family are good broadcasters who will build upon the legacy created by our outstanding team.?
With this acquisition, Midwest Communications would add the South Central stations to their current roster of 63 radio stations in Wisconsin, Michigan, North Dakota, South Dakota, Minnesota, Indiana and Illinois. Midwest Communications was formed in Wausau, Wisconsin in 1958 by the Wright family. The company's corporate offices remain in Wausau.
Kalil & Company was the exclusive broker for this transaction.
