|Hubbard buys Sandusky radio stations for $85.5M||| Print ||
|Written by Associated Press|
|Wednesday, 17 July 2013 06:28|
ST. PAUL, Minn. (AP) — Twin Cities-based Hubbard Radio has agreed to buy Sandusky Radio's 10 stations in Phoenix and Seattle for $85.5 million.
The deal was announced Tuesday and requires regulatory approval.
Both Hubbard and Sandusky are private family-owned companies.
The sale ends Sandusky's 36-year history as a radio broadcasting company. Sandusky Newspapers Inc. of Sandusky, Ohio, says the sale will allow the company to concentrate on the digital transformation of its local print and online newspaper and marketing franchises.
St. Paul-based Hubbard owns 16 radio stations in Chicago, Washington, D.C., Minneapolis-St. Paul, St. Louis and Cincinnati, and 10 television stations in New Mexico, upstate New York and Minnesota.
Hubbard Radio chair Ginny Morris says she expects no programming or personnel changes at any of the radio stations acquired in the transaction.
Copyright 2013 The Associated Press.