According to brokerage Kalil & Co., Midwest Communications’ deal to acquire nine radio stations in three markets from South Central Communications has been completed. With the closing, the sellers also bring a long run in the radio business to a close.
The price for the stations in $72M.
The buyer, head by Duke Wright, are now the owners and operators of:
WCJK-FM Adult Hits
WVRX-FM Active Rock
WIMZ-FM Classic Rock
WSTO-FM Top 40
WABX-FM Classic Rock
At the time the deal was announced, Midwest CEO Duke Wright stated, “We feel extremely fortunate to be acquiring one of America’s best run radio groups. As both South Central and Midwest are entirely family owned with both families being in the radio business for well over 50 years we feel there is a lot of commonality between the companies. I’m certain we will have much to share with each other.”
South Central Media President Craig Jacobus will help oversee the changing of the guard at the stations. He has been retained by Midwest in a
consulting capacity through the end of the year and will be assisting Midwest in all three markets.