A Hoosier broadcaster who has actively owned and operated radio stations in Indiana for 30 years has sold the last of his three station clusters.
The deal, in which Kalil & Co. represented the seller, sees Arthur A. Angotti reduce his holdings to just one small AM in South Bend.
Why is Angotti selling this cluster? We have the answer.
In a deal valued at $2.3 million, Angotti’s Artistic Media Partners is selling its three FMs and one AM in the Lafayette, Ind., market to Lafayette TV LLC.
The cluster is comprised of:
- Class A WYCM-FM “Your Country 95.7” in Attica, Ind.
- Class B WAZY-FM 96.5 in Lafayette, Ind.
- Class A WBPE-FM 95.3 in Brookston, Ind.
- Class D WSHY-AM 1410 in Lafayette, Ind., a directional two-pattern facility with 2 towers emanating 1kw during daylight hours and 60 watts at night.
Lafayette TV is an Indiana-based company headed by Bill Christian and Mike Reed.
Reed is the President/CEO of Waypoint Media, the Meridian, Miss.-based management company that oversees broadcast operations and does outside consulting work in the broadcast industry. Among Waypoint’s stations is WPBI-LD, at Channel 16 in Lafayette. It is set to become the market’s first local Fox station, and Reed says he is also actively readying the launch of the first local NBC affiliate for the Indiana market.
Christian serves as Lafayette TV’s in-market CEO. He said, “We are thrilled to be working with this great group of stations in a terrific, growing area. The Angotti family has spent two generations building this team and serving the market, and our goal is to continue their tradition of proud service.”
Angotti has gradually been heading toward retirement.
In August, Angotti sold his two radio stations in Bloomington, Ind. — WBWB-FM 96.7 “B97,” a Class A airing a CHR/Pop format, and WHCC-FM 105.1, a Class A boasting a Country format — to his son, Arthur Angotti III in a deal valued at $4.4 million.
This deal follows the August 2014 transfer of WNDV-FM, WSMM-FM and WSSM-FM in South Bend, Ind. from Artistic Media to his son’s Sound Management for $3.5 million.
With the Lafayette TV deal, Artistic’s holdings now drop to one: WDND-AM 1620 in South Bend, which presently simulcasts WNDV.
Commenting on the sale of the Lafayette cluster by his father, Arthur Angotti III said, “After 23 years of visiting and living in the Lafayette market, it’s not easy letting our Lafayette stations go. But, having met with the owners of Lafayette TV, I am confident that they will continue our commitment to broadcast excellence. I am very proud of the team of broadcast professionals and the four radio stations we have built in Lafayette. Our continuing dedication to the listener is what has made WAZY, WBPE [Bob FM], WYCM and WSHY the very best radio stations in the market.”
Art Angotti said, “This is good for our clients, employees, and the community. This is a great strategy for Lafayette TV, with huge potential.”
In addition to his radio operation, he has served as the founder and president of Heritage Management Inc., an investment banking and financial consulting firm whose clients have included the NBA’s Indiana Pacers. He is also the former president of the Indianapolis Cablevision Company.
RBR + TVBR