Journal Broadcast Group Announces Sale of KBBX-FM in Omaha Press release
MILWAUKEE, WI – June 26, 2006 – Journal Broadcast Group (JBG) today announced that it has agreed to sell KBBX-FM, “Radio Lobo 97.7FM,” to Connoisseur Media, subject to regulatory approval.
The sale was announced today by Doug Kiel, president of Journal Communications Inc. and vice chairman and CEO of the Journal Broadcast Group. “The divestiture of KBBX is part of Journal Broadcast Group’s compliance with the Federal Communications Commission’s cross-ownership rules, which came into effect on December 5, 2005, when we acquired several television stations and began to operate KMTV-TV, Omaha under a local marketing agreement,” Kiel commented.
Upon closing of the KBBX transaction, JBG will own and operate six radio stations in the Omaha market. Journal Broadcast Group is a Journal Communications’ (NYSE:JRN) company.
Terms of the transaction – which was brokered by Kalil & Company – were not disclosed.
MILWAUKEE, WI – June 26, 2006 – Journal Broadcast Group (JBG) today announced that it has agreed to sell KBBX-FM, “Radio Lobo 97.7FM,” to Connoisseur Media, subject to regulatory approval.
The sale was announced today by Doug Kiel, president of Journal Communications Inc. and vice chairman and CEO of the Journal Broadcast Group. “The divestiture of KBBX is part of Journal Broadcast Group’s compliance with the Federal Communications Commission’s cross-ownership rules, which came into effect on December 5, 2005, when we acquired several television stations and began to operate KMTV-TV, Omaha under a local marketing agreement,” Kiel commented.
Upon closing of the KBBX transaction, JBG will own and operate six radio stations in the Omaha market. Journal Broadcast Group is a Journal Communications’ (NYSE:JRN) company.
Terms of the transaction – which was brokered by Kalil & Company – were not disclosed.