Most Popular Articles
Hubbard Purchases 17 Bonneville Radio Stations
Minneapolis-St. Paul - Jan 19, 2011 - Hubbard Broadcasting has entered into an asset purchase agreement to acquire 17 radio stations from Bonneville International Corporation. The acquisition strengthens Hubbard Radio's national reach, with the addition of the stations in four strategic markets, including Washington, D.C., Chicago, St. Louis and Cincinnati. The company expects no programming or personnel changes for any of the acquired radio stations subsequent to the transaction.
As a result of the acquisition, Hubbard Radio will add 547 employees, bringing its total full and part-time employees to 701. As part of the acquisition, Bruce Reese, president and chief executive officer of Bonneville International, will assume that same role for Hubbard Radio. Reese has been with Bonneville for nearly 27 years and was appointed to his current position in 1996. Prior to joining Bonneville, Reese practiced law with firms in Washington, D.C., and Denver. He began his legal career with the Antitrust Division of the Justice Department in Washington, D.C. In addition, Drew Horowitz, COO of Bonneville International, will also join the Hubbard team. Horowitz is a 35 year veteran of radio management, holding senior level positions in sales and station management.
Under the terms of the asset purchase agreement, Hubbard Broadcasting will acquire the radio stations for approximately $505 million. Other terms of the transaction were not disclosed. The sale is expected to be finalized upon FCC approval and other customary closing conditions.
Acceptable Use Policy blog comments powered by Disqus
[an error occurred while processing this directive]
Today in Radio History
The history of radio broadcasting extends beyond the work of a few famous inventors.
EAS Information More on EAS
The feed provides feeds for all US states and territories.
Need a calendar for your computer desktop? Use one of ours.
Information from manufacturers and associations about industry news, products, technology and business announcements.
Browse Back Issues[an error occurred while processing this directive]
Also in the March Issue
- The "And More" of Automation
- FCC Enforcement Items to Watch
- Testing AM Antennas
- New Products
- Field Report: Cloud Microphones Cloudlifter CL-1
- New Products at the 2014 NAB Show
- Side by Side: IP Codecs