Community Broadcasters LLC, a broadcast company backed by Northwood Ventures LLC, has agreed to acquire seven additional radio stations spanning two new markets, bringing its total number of stations to 15 across four markets. The stations are being purchased from Backyard Broadcasting and terms of the deal were not disclosed. Five stations are added to Community Broadcasters cluster in Elmira-Corning, NY and two stations are added in Olean, NY.
The new stations in Elmira-Corning, NY, include CHR WNKI-FM (106.1), Classic Rock WNGZ-FM (104.9), Country WPGI-FM (100.9), News/Talk WWLZ-AM (820) and Classic Rock simulcast WRCE-AM (1490) and WNGZ-AM (880). In Olean, NY, the new stations are Country WPIG-FM (95.7) and Oldies WHDL-AM (1450).
"We are looking forward to working with the teams in Elmira-Corning and Olean to integrate the seven additional stations into the Community Broadcasters' family of stations," said President/CEO Jim Leven. "These new markets add to our cluster in upstate New York, further strengthening our position as a premiere broadcast entity in the region."
"Knowing Community Broadcasters' dedication to creating strong local radio I am pleased to see these leading stations add to their footprint in New York," added Backyard Broadcasting President/CEO Barry Drake.
Kalil & Co., Inc. was the exclusive broker of the acquisition. (05-06-13)
