WideOrbit Acquires Abacast

6-9-16

Ad management software maker WideOrbit has purchased Abacast, which provides streaming, live and on-demand ad insertion, and other services for digital radio. WideOrbit calls the acquisition "part of an ongoing initiative to expand [its] digital offering for major media companies," and Abacast CEO Rob Green said the Abacast team is "excited to be joining WideOrbit." WideOrbit also recently acquired Fivia AdFront and WO Traffic -- Internet Orders.

WideOrbit CEO Eric Mathewson says, "We are very excited to welcome the Abacast team to WideOrbit. Abacast has a strong position in the market as a leader in streaming solutions for radio and a solid reputation for providing excellent support to its clients. Having core technology for streaming and traditional broadcast radio under one roof will provide significant advantages to our clients."

Abacast will operate as a fully owned subsidiary of WideOrbit, continuing to operate in its Vancouver, WA offices. The terms of the deal were not disclosed.

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Spotify Acquires The Echo Nest

3-6-14

The Echo Nest is a music intelligence company which will give Spotify more depth when users curate their own playlists. Spotify CEO Daniel Ek said, ?At Spotify, we want to get people to listen to more music. We are hyper focused on creating the best user experience and it starts with building the best music intelligence platform on the planet. With The Echo Nest joining Spotify, we will make a big leap forward in our quest to play you the best music possible.? The Echo Nest will continue to operate out of its headquarters in Somerville, MA, and San Francisco. The terms of the deal were not disclosed.

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Northwestern College Acquires KLJC In Kansas City

1-30-2013

Northwestern College in St. Paul, Minnesota, and Calvary Bible College in Kansas City, Missouri, have entered into a purchase agreement for Northwestern to acquire KLJC-FM from Calvary. KLJC is a 100,000-watt non-commercial station that has had a Christian format since it signed on in 1970. Brokered by Greg Guy of Patrick Communications, the transaction requires FCC approval which is expected later this spring.

Dr. Clark, President of Calvary Bible College, states: ?Music and biblical teaching have been the trademark of KLJC, which has ministered to the Kansas City metropolitan area for 43 years. Over the years, the college has also trained more than 200 men and women, who are in Christian radio today, through a major degree program in Christian Broadcasting. Our desire is to see that same commitment for Christian radio to continue in the future. We feel confident that Northwestern College will serve as the right vehicle to proclaim the good news to Kansas City in message and song for years ahead.?

?Our Northwestern Media ministry exists to lead people to Christ and nurture believers in their spiritual growth,? says Northwestern President Alan S. Cureton. ?The model of ?high touch? listener and community engagement has effectively served our listeners in five states, and the addition of Kansas and Missouri to our roster is a responsibility and a privilege.?

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Gow Acquires Sports Flash Network

12-11-2012

The Sports Flash Radio Network was founded by Mike Sinnott and provides sports updates to affiliates across the country. Yahoo Sports Radio CEO David Gow says, "The acquisition of the Sports Flash Radio Network extends our reach to both sports-format and non-sports-format stations." Sinnott will join the management team at Yahoo! Sports Radio.

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Journal Acquires All Outstanding Class C Shares

8-14-2012

Journal has acquired all 3,264,000 outstanding shares of its Class C common stock (4,451,998 shares on a Class A-equivalent basis), all of which were owned by members and successors of the Grant Family. Journal CEO Steven Smith said, ?This transaction simplifies our capital structure and allows us to remove a class of stock that had enhanced voting and other rights,?

In this repurchase, the company paid $6,245,536 in cash and issued unsecured subordinated promissory notes with an aggregate principal amount of $25,598,989 as the purchase price for the Class C shares. The cash payment equaled the amount of the minimum unpaid and undeclared dividend on the Class C shares.

The Class C shares were first issued at the time of the company?s initial public offering in 2003 and had rights that included, among others, a minimum dividend, rights to approve strategic transactions or to receive a premium in the event of a strategic transaction, conversion rights, two votes per share, and a right to designate a board nominee. The Class C rights were terminated with this transaction.

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Journal Acquires Two Stations in Tulsa From Renda

3-7-2012

Journal Broadcast Group, says it's reached an agreement to purchase KHTT-FM and 92.9 BOB FM in Tulsa, OK, from Renda Broadcasting Corporation. The transaction is subject to FCC approval. Journal currently owns three stations in Tulsa including 98.5 KVOO FM (Country Variety), 99.5 KXBL FM (Country Classic), and 1170 KFAQ FM (Talk Radio).

Journal CEO Steven Smith said, "We have high regard for Renda Broadcasting and their talented team and are very pleased to add these exceptional radio stations to our Tulsa cluster. The combination of these high quality stations will create a strong group that will continue to serve our listeners, customers and the entire Tulsa community. This transaction is consistent with our strategic goal of creating additional scale in existing Journal Broadcast markets."

Renda CEO Tony Renda said "We are pleased to have reached an agreement with Journal for our two Tulsa stations. This transaction will benefit both parties. Pittsburgh-based RBC is a privately held radio broadcasting company. RBC and its affiliated companies own and operate 25 radio stations in 8 markets.

Michael J. Bergner of Bergner & Company advised Journal Communications on the transaction.

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BE Acquires LocalMedia

LocalMedia is an application development company that specializes in social media and audience interactivity tools for radio. BE acquired all licensing, development and support assets for LocalMedia interactive products. Since April, 2011, these products have been marketed by BE under a partnership arrangement and offered under the brand names of CrowdControl, DJ Wall and SMS Campaign Manager.

These products are used to assist the station in engaging and capturing listeners through interactive, real-time song voting, social media networking via Facebook, Twitter, Google+ and text based mobile marketing. Broadcast Electronics will contribute its existing suite of interactive and internet products including iTunes tagging, SoniXtream, the Artist Experience, and other innovative solutions still in development.

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