Larry Wilson’s new Alpha Broadcasting is still a single market company, but now a giant in that market, Portland, OR. About three months after announcing his deal to buy a combo from Paul Allen, Wilson is now buying four stations from CBS Radio. Look for the official announcement to come out today, but word spread Friday after station employees were informed of the sale.
According to the Portland Oregonian newspaper, Wilson is paying about $40 million for Talk KCMD-AM, Country KUPL-FM, AOR KINK-FM and Alternative KUFO-FM. They will join News/Talk KXL-AM and Sports KXTG-FM, which Alpha bought for $11 million. The new broadcasting venture is backed by Portland-based Endeavor Capital.
The acquisition makes Alpha a much larger player in Portland, putting it in the league with market leaders Clear Channel, which has seven stations, and Entercom, with six.
Wilson founded Citadel Broadcasting and left the company after its sale in 2001 to Forstmann Little & Company for $2 billion.