CEO Steve Smith just told investors that Journal Communications was prepared to buy TV where it has radio, and radio where it has TV, and might even add within category when the right opportunity comes along. Apparently it has on the company’s radio side, in Tulsa OK, where a two-FM buy will take it to a five-station cluster.
Its Journal Broadcast Group division is picking up 106.9 KHTT-FM and 92.9 KBEZ-FM from Renda Broadcasting Corporation for an undisclosed price. The stations utilize Contemporary Hit and Adult Contemporary Variety formats, respectively.
The stations will combine with 98.5 KVOO-FM (Country Variety), 99.5 KXBL-FM (Country Classic), and 1170 KFAQ-AM (Talk Radio).
“We have high regard for Renda Broadcasting and their talented team and are very pleased to add these exceptional radio stations to our Tulsa cluster,” said Smith. “The combination of these high quality stations will create a strong group that will continue to serve our listeners, customers and the entire Tulsa community. This transaction is consistent with our strategic goal of creating additional scale in existing Journal Broadcast markets.”
“We are pleased to have reached an agreement with Journal for our two Tulsa stations. This transaction will benefit both parties,” said Anthony F. Renda, Sr., Founder and President of Renda Broadcasting.
Michael J. Bergner represented Journal in the transaction.