12-15-14
Salem will add its fourth station in Orlando with a $1.3 million purchase of 990-AM WDYZ. In Orlando, Salem owns Conservative Talk ?660 The Answer? WORL, Christian Preaching 950 WTLN, and Business Talk 1520 WBZW. Disney had originally paid $5 million for that AM which it now selling for $1.3 million. Back in August Disney announced it would be selling off 23 of its 24 stations to focus more on digital distribution.
12-4-14
Learfield Communications and Saga Communications announced that the two companies have reached an agreement under which Learfield has acquired the Minnesota and Michigan News and Ag Radio Networks from Saga. The agreement becomes effective immediately. Financial terms were not disclosed. Saga CEO Ed Christian said, "Learfield is very well respected in the radio business and has a proven track record in network operation. The service Learfield provides to its affiliate radio stations is unmatched, and its news and agriculture networks are first rate." Saga is out of the Ag Radio Network Business but still owns the Illinois Radio Netowrk.
Learfield was founded in 1972 as a regional news and farm radio network. This acquisition brings to seven the number of state radio news networks operated by Learfield, and adds significant coverage to Brownfield Ag News, America's leading farm radio network. In total, 382 radio stations are now served by Learfield's agriculture programing and 431 radio stations by Learfield news services.
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12-1-14
WKIX-FM 102.9 (Classic Hits) has been purchased by Curtis Media Group from McClatchey Broadcasting. Simultaneous to acquiring WKIX, Curtis Media Group has sold 102.3 FM to Triangle Marketing Associates. This sale was required to comply with FCC single-market ownership limits. Curtis says it will not be changing the format WKIX. Sale prices were not revealed in either announcement. Curtis Media owns five FMs and three AMs that cover the Raleigh market.
Billy McClatchey exits the broadcasting business to focus on his work with Chaucer Creek Capital. Triangle Marketing Associates is owned by Rick Heilmann. The station will go silent while Heilmann relocates to new offices and studios, and will likely return to the air within 30 days with a yet-to-be-determined format. This marks a return of 102.9 to Curtis Media Group. This station was acquired by McClatchey in a three-way transaction in 2010 between Curtis, McClatchey, and Capitol Broadcasting. In that transaction, Curtis traded its interest in 102.9 for the North Carolina News Network and 850 AM. Capitol acquired WDNC and WCLY and the programming operation of 850 AM The Buzz.
10-21-14
Greg Guy and Jason James of Patrick Communications fill us in on the details in Missouri. 100,000-watt KWFC-FM (airing a Southern Gospel format) is sold to Radio Training Network, which is run by James Campbell. Radio Training also owns KWND-FM in Springfield, as well as 24 other stations in 14 markets. The seller was Baptist Bible College.
5-14-14
Thanks to Dick Kozacko for sharing the news that Talking Stick Communications has sold WAOR-FM to St. Joseph Catholic Radio Group of Ft. Wayne, IN, for $925,000. WAOR operates on 95.7 mHz with 2,500 watts and an antenna 509 feet above average terrain. George Kimble of the Tucson office of Kozacko Media Services represented the seller and Jon Yinger of Broadcast Properties represented the buyer.
2-19-14
APN News & Media is ready to pay $246 million (Australian, about $222 million U.S.) to Clear Channel to take full control of its radio assets, in which Clear Channel owns a 50 percent stake. With the deal comes an exclusive 10-year agreement to operate and broadcast the iHeartRadio digital platform in Australia and New Zealand, and an exclusive option to act as iHeart implementation partner in "a number of Asian markets."
The deal includes Clear Channel's stakes in APN and in the Radio Network Limited and will give APN 100 percent ownership of the largest network of stations in Australia and New Zealand. CEO Michael Miller said, "ARN and TRN are businesses that we know extremely well, having run them for almost 20 years. They are managed by highly competent teams and continue to deliver growth in both audience numbers and advertising revenues. We are confident that radio will continue to grow as a medium and that ARN and TRN will continue to capture a greater share of the market."
12-15-13
Kevin Terry's JLD Media is selling KZMG-FM in Melba, ID, to FM Idaho of Boise for $800,000. Darrell Calton of FM Idaho said, Also, KINF-FM, licensed to Gooding, ID and owned by FM Idaho, is moving to Twin Falls, ID. It's being sold to local group owner Kim Lee, President of Lee Family Broadcasting, for $300,000. These transactions are, in part, a result of the Rulemaking (MB Docket 06-72), adding new services and making changes to 15 stations in Nevada, Idaho, Oregon and Montana. Greg Merrill of Media Services Group was the broker in these transactions.
11-13-13
Broker Kalil and Company tells Radio Ink Univision Radio is selling KPTY-FM in Winnie Texas to John Walton's Excel Media. It's Walton's first radio station purchase. No price was announced. Broker Sandi Bergman represented the buyer in the deal.
8-15-13
The stations being sold by Max Media are: KCJC-FM, KCAB AM, Dardanelle, KWKK-FM, Russelville, KVLD-FM, Atkins, KVOM-AM and KVOM-FM, Morrilton, all in Arkansas. EAB of Russelville is an Arkansas-based company headed by Bobby Caldwell who owns several stations in the state of Arkansas. KALIL & CO. represented the buyer in the deal and Sunbelt Media represented the seller. No price was announced.
6-27-2013
KMFC-FM Centralia, Missouri, has been sold by the Clair Group for $515,000. The buyer is the Educational Media Foundation. The deal was brokered by Greg Guy and Jason James of Patrick Communications. KMFC operates at 16,000 watts in the Columbia, MO, market.
6-6-13
YMF Media has signed an agreement to sell the two AM stations to Pham Radio Communication. KVTO-AM, licensed to Berkeley, CA, is a Class C station that transmits on 1400 kHz. KVVN-AM is a Class B station licensed to Santa Clara, CA, that transmits on 1430 kHz. Media Venture Partners represented YMF Media, LLC in this transaction.
4-15-13
Mid-West Family Broadcasting says it is purchasing the assets of Maverick Media in the Eau Claire and Rockford, IL markets. Mid-West President Tom Walker said "We have wanted to grow our company for some time and want to bring the ideals of ?locally-owned radio' back to these two cities. The stations in both Eau Claire and Rockford will continue serving their local markets with the quality programming Mid-West Family brings to all its stations." An LMA for the stations will begin in several weeks.
The stations that will become part of Mid-West Family Broadcasting include:
Eau Claire stations
WAYY-AM
WEAQ-AM
WECL-FM
WIAL-FM
WDRK-FM
WAXX-FM
Rockford stations
WNTA-AM/FM
WRTB-FM
WGFB-FM
WXRX-FM/D-D2
More than 25 owned and operated stations currently fall under the Mid-West Family Broadcasting umbrella in Madison, WI, La Crosse, WI, Springfield, MO, Springfield, IL and St. Joseph/Benton Harbor/South Haven, MI.
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12-6-2012
Harris Corporation has reached an agreement to sell Broadcast Communications to an affiliate of The Gores Group, LLC for $225 million. The price includes $160 million in cash at closing, a $15 million subordinated promissory note, and an earnout of up to $50 million based on future performance. The transaction is subject to customary regulatory review and closing conditions and is expected to be completed in early calendar year 2013.
"The sale of Broadcast Communications reflects our strategy to optimize our business portfolio and focus on our core businesses," said William M. Brown, president and chief executive officer of Harris. "As previously communicated, we plan to repurchase up to $200 million of our shares after the deal closes. This is in addition to the $200 million of share repurchases already planned for fiscal 2013 and reflects our ongoing commitment to effectively deploy capital, including returning cash to shareholders."
"In Harris Broadcast Communications, we are investing in a proven technology leader with great products and a great team. We are excited to provide the capital and support to transition this division to a strong and independent company further enabling it to continue developing and delivering market-leading technologies to its customers," said Ryan Wald, managing director of The Gores Group.
12-4-2012
Journal sells the AM in Knoxville, to Tennessee-based religious broadcaster WMCH Radio. Journal owns three other radio stations in Knoxville, including WCYQ-FM Q93 (Country), WWST-FM Star 102.1 (Contemporary), and WKHT-FM Hot 104.5 (Contemporary). Terms were not disclosed. WMCH intends to change the call letters to WWAM-AM.
11-13-2012
According to the Houston Chronicle KCOH-AM has been sold to a Midland-based foundation that plans to relaunch the station as part of the Catholic-oriented Guadalupe Radio Network. The network says its purpose is "to lead souls back to Jesus Christ through His holy Catholic Church, through the use of the powerful medium of radio." That programming change should take place in February. KCOH-AM says it is the oldest African-American owned urban formatted radio station in the country.
Read the entire Chronicle story HERE
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10-24-2012
Radio One says its selling (Adult Hits) WJKR-FM in Columbus to Salem. Radio One said the station is not a core asset. Radio One owns two urban stations in Columbus: WCKX-FM (mainstream/urban) and WXMG-FM (R&B and oldies). The sale rice was not annouced. Salem will LMA the station starting November 1st.
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9-21-12
Family Stations has agreed to purchase Greater Media Sports station WPEN-AM in Philadelphia. The station will keep its current programming until the deal closes, at which time the new owner will flip it to a Christian format. Greater Media will keep the WPEN call letters for FM Sports clustermate, 95.7 The Fanatic.
Greater Media/Philly VP/Market Manager John Fullam said, "Family Stations has been a pleasure to work with. Greater Media looks forward to focusing on the growth of 97.5 The Fanatic, the best Sports Talk station serving the market and the new home to Sixers and Flyers play-by-play."
Family Stations VP Tom Evans said the company is "grateful to once again have the opportunity to provide God's word" to Philadelphia listeners.
Media Venture Partners represented Family Stations in the transaction; no purchase price was announced.
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August 23, 2012
Emmis pulls the trigger on the sale of Spanish Hits KXOS/Los Angeles to qualified designees of Mexico City-based Grupo Radio Centro. The price is $85.5 million, most of which will go to pay down Emmis debt.
Emmis recently announced it was negotiating to further extend the recently expired provision of the put and call agreement that gave GRC the right to buy the station for the $85.5 million figure -- after the August 8 deadline passed, the price was set to go up to $110 million, but the companies said at the time that they were still negotiating. According to an SEC filing, on August 20, that part of the agreement was extended through August 23, and now the sale has been made.
The original seven-year LMA gave GRC the right to purchase the station for $110 million during that term or for Emmis to require GRC to purchase the station for that amount when the term expired. But earlier this year Emmis and GRC adjusted the deal to offer the reduced price if a deadline was met.
GRC began operating KXOS (Exitos) under an LMA in 2009, flipping the format from Rhythmic AC "Movin" in April and changing the calls from KMVN to KXOS in June of that year.
(8/23/2012 2:11:25 PM)
The amount of money Emmis has spent surrounding all things HD is disgusting. All Emmis staffers were required to take a 5% pay cut afew YEARS back (and were promised it would be returned.. it has not) and some took an additional 6% 2 years ago.
(8/23/2012 1:18:08 PM)
I wonder how much of that debt is due to developing that silly iBiquity HD Radio phone, and converting stations to HD Radio. Where are all of radio's shareholders, and are they even aware of the HD Radio scam?
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8-9-2012
The announcement comes from the buyer, Zoe Communications, who has signed a letter of intent to purchase Hubbard Broadcasting's WIXK-AM in New Richmond. An LMA for the station agreement begins Monday. Zoe Communications also owns WDMO-FM in New Richmond, giving the company an AM/FM combo. The company says it will retain the full-time employees currently working at WIXK-AM.
Hubbard Radio Chair Ginny Morris said, ?For the past ten years Hubbard Broadcasting has enjoyed our relationship with our listeners and advertisers in Western Wisconsin. But as we expand our radio footprint in major markets throughout the U.S. we felt it was the right time to pass along this wonderful New Richmond radio station to a broadcaster who is focused on Western Wisconsin. We have great employees at WIXK-AM who will continue to serve communities and clients in the St. Croix River Valley.?
?This is a big day for Zoe Communications,? said Mike Oberg, president and owner of Zoe Communications. ?We recently signed-on WDMO at 95.7FM so we believe this will be a great AM/FM combo for New Richmond and the St. Croix River Valley. We have great respect for the strong heritage of WIXK and are excited to bring a new FM back to New Richmond. It is a win-win for both companies. We are Wisconsin broadcasters and WIXK-AM strengthens our Western Wisconsin portfolio. At the same time Hubbard Broadcasting can focus on their core radio business, which is located in large markets.?
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5-7-2012
The calls are WMEZ-FM (Soft rock) and WXBM-FM (Country) and the final two stations Pamal had in Florida. The company is based out of Albany, New York. Cumulus CEO Lew Dickey made the announcement during the company earnings call Monday afternoon. Cumulus already had somewhat of a presence in both Mobile and Pensacola and this purchase helps them round out there clusters there.