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SMM Acquires 46 Pennsylvania Stations from Forever Media
RADIO ONLINE | Thursday, October 13, 2022 |
Kristin Cantrell's Seven Mountains Media has agreed to acquire 34 stations and 12 translators in five Pennsylvania markets from her father Kerby Confer's Forever Media in a deal valued at $17.4 million, plus the assumption of debt. Included in the deal are stations in State College, Altoona, Johnstown, Meadville-Franklin, Meadville-Franklin and Lebanon -- all in Pennslyvania.
In order to comply with current FCC ownership limits, Seven Mountains is spinning off five stations in State College to COO Jim Loftus's Covenant Communications for $1 million.
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