Hubbard Closes on 16 MN Stations from Omni
|RADIO ONLINE | Friday, February 27, 2015|
Hubbard Broadcasting has closed on its previously announced acquisition of sixteen (11 FMs/5 AMs) and one translator in four clusters located throughout Minnesota from Omni Broadcasting Company for $8 million. Included in the deal are KIKV-FM (100.7) and KULO-FM (94.3)/Alexandria. KLLZ-FM (99.1), KKZY-FM (95.5), WQXJ-FM (104.5), KBHP-FM (101.1), KBUN-AM (1450) and K235BP-FM (94.9)/Bemidji. KLIZ-FM (107.5), WJJY-FM (106.7), KBLB-FM (93.3), KUAL-FM (103.5), KLIZ-AM (1380), KVBR-AM (1340)/Brainerd. KKWS-FM (105.9), KWAD-AM (920) and KNSP-AM (1430)/Wadena-Staples.
"Hubbard Broadcasting is deeply committed to local radio and to Minnesota, and this is a great opportunity to expand the company's presence into some wonderful local communities," said Hubbard Radio Chair/CEO Virginia (Ginny) Morris. "We have long admired Lou Buron and Mary Campbell, whose stations have been nationally recognized for both excellence in programming and commitment to local community service. We are committed to maintaining that dedication to excellence and community, and we look forward to welcoming all Omni employees to the Hubbard Broadcasting family."
Omni Broadcasting President Lou Buron added, "Hubbard Broadcasting is a leader in our industry, and we believe that our stations could not be in better hands. Hubbard Broadcasting will be able to provide significant scale and growth potential to these stations, which well-positions our customers, employees and listeners for the future."
Larry Patrick and Susan Patrick of Patrick Communications were the exclusive brokers.