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artmorris
Administrator
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Posted: Tue May 8th, 2007 01:00 pm |
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From Radio Ink (5/8/2007)
According to a filing with the Securities & Exchange Commission, Dean Goodman’s Good Radio.TV has agreed to purchase 187 Clear Channel radio stations in 36 markets for $452 million.
That sale includes stations in Iowa, Kentucky, Missouri, Maine, North Dakota, Ohio and West Virginia.
And, from All Access:
Dean GoodmanTV executive DEAN GOODMAN's deal to buy the "leftover" CLEAR CHANNEL spinoffs shapes up as 187 stations in 36 markets for a total of $452 million, with local reports indicating that all MAINE CC markets, BISMARCK, ND, SOMERSET, KY, BINGHAMTON, NY, ROCHESTER, MN , and SALISBURY-OCEAN CITY are among the markets included in the sale to GOODRADIO.TV, LLC
And from arkansasbusiness.com
Clear Channel Sells Northwest Arkansas Radio Cluster
By Andrew Jensen - 5/3/2007 10:32:31 AM
Clear Channel Communications Inc. of San Antonio has nearly completed the divestiture of its smaller market radio stations with the sale of four northwest Arkansas properties.
The cluster includes KKIX-FM 103.9, KIGL-FM 93.3, KEZA-FM 107.9 and KMXF-FM 101.9. The group represents some of the top stations in the fall 2006 ratings released by Arbitron Inc.
Clear Channel sold the four local channels to GoodRadio.TV LLC, a new venture headed by Dean Goodman, the former president and COO of ION Media Networks Inc. ION, formerly known as Paxson Communications, was the largest radio group in Florida until 1997, when the company sold its radio and television stations to launch PAX TV.
Industry reports counted Goodman's acquisitions from Clear Channel at around 180 stations in 36 markets and valued the group's deals at about $450 million. His limited-liability corporation bought a 12-station group in Missouri in February.
The total value of Clear Channel's radio divestiture since the media giant announced the plan last fall is estimated at about $730 million for 362 stations in 72 markets. All of Clear Channel's station sales were in markets outside the top 100 in the nation, which excluded the sale of its radio stations in Little Rock.
The sales are contingent upon regulatory approval, which could take 90 days.
Clear Channel targeted 448 stations for divestiture in November.
Clear Channel's initial price for the northwest Arkansas cluster was $60 million.
The northwest Arkansas radio market is ranked No. 135 in the nation by Arbitron, making it one of the largest acquired by Goodman.
Clear Channel is in the midst of a takeover bid led by Thomas H. Lee Partners and Bain Capital. The company sold its television group to Providence Equity Partners Inc. for $1.2 billion.
And from the Iowa Broadcaster's association web page....
General Managers - GoodRadio.TV is in a nationwide acquisition mode and is looking for General Managers and Regional Managers to join our growing company. If you have a strong sales orientation and believe in growing your people by motivating and working directly with team members and clients, we woudl like to talk to you. GoodRadio.TV is acquiring small market stations where our radio stations are integrated with communities we serve. Direct Sales experience a must. Send your resume to: gpelletier@goodradio.tv. GoodRadio.TV is a Equal Opportunity Employer.
Last edited on Tue May 8th, 2007 01:55 pm by artmorris
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