Wednesday, January 19, 2011
The deal of the decade!
Minneapolis based Hubbard Broadcasting has purchased 17 Bonneville International (Deseret Management Company of Salt Lake City) stations in Chicago, St. Louis, Cincinnati and Washington DC. The total value of the deal Vanna is 505 million dollars. Bonneville execs Bruce Reese, Drew Horowitz and Greg Solk will join the Hubbard team. Bonneville retains ownership of Salt Lake City, Los Angeles, Phoenix and Seattle. CMR stations WIL St. Louis and WUBE/WYGY Cincinnati join the new Hubbard family. Newly minted Hubbard Radio's President Ginny Morris told COUNTRY AIR CHECK ""We have long admired the good work, reputation and leadership of Bonneville and its management team, and feel honored to welcome these great stations into the Hubbard family of companies." Until this purchase, Hubbard only owned KSTP AM/FM, KTMY-FM and WIXK-AM.