Media Venture Partners announced that Main Line Broadcasting has closed on its $57,000,000 sale to L&L Broadcasting. The transaction included Main Line’s radio stations in Louisville, KY, Dayton, OH, Richmond, VA and Hagerstown-Chambersburg, MD-PA. Media Venture Partners represented Main Line Broadcasting, LLC in this transaction.
On 4/17, Portland, OR-based L&L Broadcasting and Alpha Broadcasting announced a plan to merge the two businesses into a single, privately held entity called “Alpha Media.” Concurrently, Alpha said it will buy Philadelphia-based Main Line Broadcasting’s 19-stations for $57 million. Main Line operates 19 stations in four markets including Louisville, KY; Richmond, VA; Dayton, OH and Hagerstown, MD/Chambersburg, PA. Media Venture Partners represented Main Line in the deal.
Alpha operates KINK, KUPL, KBFF, KUFO, KXTG and KXL-FM.
L&L operates 43 stations in seven markets.
After the deal is done, Alpha Media will operate 68 stations in 12 markets in Portland, San Antonio, Louisville, Dayton, Savannah, Richmond, Biloxi and other markets in the South and Mid-Atlantic. The current corporate team for Alpha and L & L will remain and operate the company from the HQ in Portland. L&L has been overseeing the ops of the Portland stations for the last year via an LMA with Alpha.