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Ohana Media Group to Acquire Nine NNB Stations
| RADIO ONLINE | Friday, December 17, 2010 | 4:34pm CT |
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Ohana Media Group (OMG) has agreed to acquire nine stations in Anchorage, AK and Astoria, OR, from Revitalization Partners, the receiver for New Northwest Broadcasters. Terms were not disclosed, but a filing with the FCC reveals the company paid $465,000 for the Astoria stations and $275,000 for the Anchorage outlets. This is the first acquisition for newly formed OMG. OMG is headed by 12-year broadcast vet Trila Bumstead, currently NNB's President/CEO.
Veteran broadcasters Bill Sigmar and Tom Oakes will assume the COO and VP/Programming roles, respectively, for OMG following the conclusion of the transfer of ownership. Bumstead will continue as CEO of NNB until the sales of all current NNB stations are closed and continue to help Revitalization Partners conclude NNB's receivership status.
Stations included in the transaction are KAST-AM, KKEE-AM, KLMY-FM, KCRX-FM and KVAS-FM/Astoria and KBBO-FM, KDBZ-FM, KFAT-FM and KXLW-FM in Anchorage.
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