Townsquare Media already owns 11 stations in the Tri-Cities and Yakima, WA markets. Now it is buying 12 stations currently owned by New Northwest Broadcasting. But Townsquare will still end up owning only 12 stations, so there are going to be lots of spin-offs from this deal.
The excess stations – some currently owned by both New Northwest Broadcasting and others by
Townsquare Media – will be placed into a divestiture trust, overseen by an independent trustee, pending sale to a third party or parties, Townsquare said in announcing the deal.
“We are delighted to be improving our position in the Yakima and Tri-Cities markets where today we already have strong operations,” commented Townsquare Media Chairman and CEO Steven Price. “For Townsquare Media this represents an opportunity to strengthen our ability to engage listeners and produce results for clients. For NNB this represents the culmination of the receivership process which began in the spring. And for the future employees of the divestiture trust, after a transition period while the divestiture trust arranges a sale of the trust’s stations, this represents an opportunity for a fresh start with a new ownership group,” he added.
Here is how the whole thing works out:
Tri-Cities market
Townsquare will keep
KEYW-FM (Townsquare)
KORD-FM (Townsquare)
KUJ-FM (NNB)
KXRX-FM (Townsquare)
KFLD-AM (Townsquare)
KALE-AM (NNB)
Going into Divestiture Trust
KEGX-FM (NNB)
KKSR-FM (NNB)
KIOK-FM (NNB)
KOLW-FM (Townsquare)
KTCR-AM (NNB)
Yakima market
Townsquare will keep
KXDD-FM (NNB)
KRSE-FM (NNB)
KATS-FM (Townsquare)
KDBL-FM (Townsquare)
KIT-AM (Townsquare)
KJOX-AM (NNB)
Going into Divestiture Trust
KARY-FM (NNB)
KHHK-FM (NNB)
KFFM-FM (Townsquare)
KQMY-FM (Townsquare)
KBBO-AM (NNB)
KUTI-AM (Townsquare)
