In the final weeks of 2012, Larry Wilson grabbed one of the formative puzzle pieces of what would become Alpha Media. In a deal valued at $21 million, Wilson’s L&L Broadcasting agreed to purchase a collection of radio stations across five markets from a subsidiary of David Benjamin-led Triad Broadcasting Co.
Today, Wilson is no longer actively running the company he built. Some of the more signature markets Alpha ended up in, such as West Palm Beach, are no longer places Alpha can hang its shingle.
Add Peoria, Ill., to the list of locales Alpha is vacating.
A contract has been signed and an application is being filed with the FCC for the transfer of WIRL-AM, WMBD-AM, WPBG-FM, WSWT-FM, WNGY-FM & WXCL-FM, all in Peoria, from Alpha Media to the owner of radio stations led by Duke Wright.
That would be Wisconsin-based Midwest Communications, which is the licensee of 75 radio stations in Tennessee, Michigan, Wisconsin, Indiana, North Dakota, South Dakota, and Minnesota.
The deal was brokered by Kalil & Co.
Wright, who serves as Midwest’s President/CEO, said, “The first time my wife and I visited Peoria was to visit son Michael enrolled at Bradley University. We were most impressed with the city and its radio stations. My thought was that here was a market that would probably nicely fit into the Midwest Communications radio group. Many years later when we learned that an acquisition of the market-leading Alpha stations was possible we did our due diligence and found that the Alpha stations fit our business plan perfectly. The stations represented a market leading operation in terms of staff, winning programming, technical facilities and balance sheet. We look forward to working together with the Peoria staff to continue to provide excellent radio service to Peoria and the surrounding area.”
Portland, Ore.-based Alpha’s current President/CEO, Bob Proffitt, added, “It’s been an honor to work with Mike Wild and the great team in Peoria. They have been an integral part of Alpha and will be missed. We are sad to see them go but know they are in great hands with Duke Wright and the Midwest Communications family.”
Midwest Communications will be acquiring the following stations from Alpha Media:
WIRL-AM operates at 1290 kHz, with 5.0 kW day and 5.0 kW night.
WMBD-AM operates at 1470 kHz, with 5.0 kW day and 5.0 kW night.
WPBG-FM operates at 93.3 MHz, with 41 kW at 551’ HAAT.
WSWT-FM operates at 106.9 MHz, with 50 kW at 479’ HAAT.
WNGY-FM operates at 102.3 MHz, with 4.1 kW at 400’ HAAT.
WXCL-FM operates at 104.9 MHz, with 6.0 kW at 328’ HAAT.
KALIL & CO., INC. is the exclusive broker for this transaction.