Leighton Enterprises, Inc. has signed a purchase agreement to acquire the radio stations of Paradis Broadcasting of Alexandria, Inc.
Paradis is recognized locally as being the Voice of Alexandria and consists of three radio stations.
Paradis is selling KXRA-AM & FM and KXRZ-FM.
The stations serve West Central Minnesota, a largely rural area southwest of Fargo, N.D.
“Expanding to Alexandria is a natural fit for us with our stations in St. Cloud, Fergus Falls, Perham, and Detroit Lakes,” said CEO Bob Leighton.
Leighton plans to keep the stations operating as usual, with local programming intact. The company will also retain all Paradis employees, including GM Brett Paradis.
“We are excited to expand to Alexandria and Brett Paradis joining our team,” Bob Leighton added. “His knowledge, experience in the industry, and commitment to serve the local community will be an asset to our company. We look forward to Brett helping Leighton Broadcasting’s continued growth.”
Paradis commented, “My team and I have worked with Leighton for 10-plus years as colleagues, so we are very familiar with their operation and excited about the future. After 31 successful years here in Alexandria, I can tell you that I am so proud of my team, and now I am proud to bring them along and join the family at Leighton Enterprises. We are both second-generation broadcast companies and share the same values. By joining forces, we will be able to provide new resources to our customers and provide better benefits to our employees.”
The transaction is subject to FCC review and approval, which normally takes 90-120 days.
A Form 314 filing is expected, with the valuation of this transaction, by Sept. 30.
The last radio acquisition Leighton Enterprises made was in 2015, when the company purchased 10 stations in Winona, Fergus Falls, and Perham, Minn.
