NRG Media has agreed to purchase KFMW-FM, KOKZ-FM, KWLO-AM, and KXEL-AM, Waterloo, IA from Woodward Communications Inc. (Woodward Radio Group) Jody McCoy of Media Services Group’s Colorado Springs office was the exclusive broker representing the seller in this transaction. The purchase price is $3,550,000. McCoy tells RBR-TVBR: “These are legacy big signal radio stations serving Iowans for many decades. NRG Media will be an excellent steward going forward.”
Mary Quass, CEO of NRG Media said, “We are delighted to have the opportunity to add the stations in Waterloo/Cedar Falls to our platform. We continue to look for great radio properties that are located in the Midwest and are an integral part of the communities they serve. NRG is pleased to be adding these strong stations to our company of great local radio stations.”
Woodward operated the stations for the past two plus years and prior to Woodward, Bahakel Broadcasting owned KXEL-AM for 54 years from 1958 to 2012 and KOKZ-FM; KFMW-FM and KWLO-AM from 1996 -2012.
“WCI is pleased to be able to transition the Waterloo/Cedar Falls Radio Group to NRG, a well-known, community-oriented radio broadcast company with a great Midwestern culture and presence”, said Tom Woodward, WCI President/CEO. “Our strategic plans and related growth goals positioned the sale of the Waterloo properties and we salute the loyal, talented and dedicated staff we were fortunate to work with. We will continue to operate, grow and enhance our award-winning, seven station radio group in the Appleton/Green Bay, Wisconsin markets which we’ve owned since the late 70’s.”
The formats:
KFMW-FM Rock
KOKZ-FM Classic Hits
KWLO-AM ESPN Radio
KXEL-AM News Talk
