Citadel founder Larry Wilson is returning to radio with a deal to buy KXL-AM & KXTG-FM Portland, OR from Microsoft co-founder Paul Allen’s Rose City Radio. Billionaire Allen will retain ownership of the NBA Portland Trailblazers and NFL Seattle Seahawks, both of which air play-by-play on Sports/Talk KXTG-FM. KXL-AM is a News/Talker.
According to broker Doug Ferber of DEFcom LLC, the ongoing relationship between Wilson and Allen is a big key to the deal, and both are ecstatic about all facets of the deal. In addition to long-term rights to both of Allen’s teams, Wilson will have the Ducks – no, not the ones that chase a puck in Anaheim – the University of Oregon Ducks who play football and men’s and women’s basketball.
Ferber, who left Star Media Group in February to start up his own firm, said the price for the combo is $11M.
Wilson, whose new company is called Alpha Broadcasting, said, “The purchase of these great facilities is a perfect way for me to reenter the radio business. I look forward to providing the people of Portland with truly compelling radio. One of the key elements of the deal is continuing and building upon the relationships with the Portland Trail Blazers, the Seattle Seahawks and the University of Oregon Ducks. We will endeavor to be an excellent partner and home for these legendary sports franchises.”
RBR/TVBR observation: With radio stations, as with potato chips, it’s hard to stop with just two, especially if holding the reins on a large group is on your resume. Look for Wilson to strike again. And if he starts a trend where more individuals who know how to run a radio business come back into the fold, that can only be seen as an excellent development.