Midwest to Acquire Six Outlets in Peoria from Alpha Media
|RADIO ONLINE | Monday, February 4, 2019|
Midwest Communications has agreed to acquire six radio outlets in Peoria, IL, from Alpha Media. Terms were not immediately disclosed. Included in the deal are 5kW WIRL-AM (1290), 5kW WMBD-AM (1470), 41kW WPBG-FM (93.3), 50kW WSWT-FM (106.9), 4.1kW WNGY-FM (102.3) and 6kW WXCL-FM (104.9). Midwest Communications, is a Wisconsin-based company headed by Duke Wright and also owns 75 radio stations throughout Tennessee, Michigan, Wisconsin, Indiana, North Dakota, South Dakota, and Minnesota. Alpha Media, is an Oregon-based company that owns 201 stations in 44 markets, pending the completion of all announced transactions.
Alpha Media President/CEO Bob Proffitt commented, "It's been an honor to work with Mike Wild and the great team in Peoria. They have been an integral part of Alpha and will be missed. We are sad to see them go but know they are in great hands with Duke Wright and the Midwest Communications family."
Midwest President CEO Duke Wright added, "The first time my wife and I visited Peoria was to visit son Michael enrolled at Bradley University. We were most impressed with the city and its radio stations. My thought was that here was a market that would probably nicely fit into the Midwest Communications radio group. Many years later when we learned that an acquisition of the market leading Alpha stations was possible we did our due diligence and found that the Alpha stations fit our business plan perfectly."
Kalil & Co. brokered the deal for both parties.