Hubbard Broadcasting, Inc. Announces Agreement to Purchase 16 Radio Stations from Omni Broadcasting Company
Acquisition Expands Company across Central and Northern Minnesota; Dan Seeman named Vice President and Regional Manager of Minnesota Radio Operations for Hubbard Broadcasting, Inc.
MINNEAPOLIS-ST. PAUL, November 13, 2014 – Hubbard Broadcasting, Inc. announced today that the company has entered into an asset purchase agreement to acquire 16 radio stations from Omni Broadcasting Company. The acquisition expands Hubbard Broadcasting by adding radio stations in the Alexandria, Bemidji, Brainerd and Wadena, MN markets.
“Hubbard Broadcasting is deeply committed to local radio and to Minnesota, and this is a great opportunity to expand the company’s presence into some wonderful local communities,” said Virginia (Ginny) Morris, chair and CEO of Hubbard Radio. “We have long admired Lou Buron and Mary Campbell, whose stations have been nationally recognized for both excellence in programming and commitment to local community service. We are committed to maintaining that dedication to excellence and community, and we look forward to welcoming all Omni employees to the Hubbard Broadcasting family.”
The 16 stations involved in the transaction are: KIKV-FM 100.7, KULO-FM 94.3, KKZY-FM 95.5, KLLZ-FM 99.1, KBHP-FM 101.1, WQXJ-FM 104.5, KBUN-AM 1450, WJJY-FM 106.7, KLIZ-FM 107.5, KBLB-FM 93.3, KVBR-AM 1340, KUAL-FM 103.5, KLIZ-AM 1380, KKWS-FM 105.9, KWAD-AM 920 and KNSP-AM 1430.
Through the acquisition, Hubbard Broadcasting will add 100 employees. The company expects no programming or personnel changes for any of the acquired stations. Commented Lou Buron, president of Omni Broadcasting: “Hubbard Broadcasting is a leader in our industry, and we believe that our stations could not be in better hands. Hubbard Broadcasting will be able to provide significant scale and growth potential to these stations, which well-positions our customers, employees and listeners for the future.”
As a result of the expansion, Dan Seeman, Vice President and Market Manager for Hubbard Radio Minneapolis-St. Paul, has been named Vice President and Regional Manager of Minnesota Radio Operations for Hubbard Broadcasting, Inc. Seeman will continue his current role in managing KS95, myTalk 107.1, 1500 ESPN and the Hubbard Radio Network in the Twin Cities, as well as overseeing the new Hubbard properties in Alexandria, Bemidji, Brainerd and Wadena. The current leadership of Omni Broadcasting will report to Seeman as Omni is fully integrated into the company.
Said Seeman, “I am thrilled to expand my current role and have the opportunity to work with these great radio stations, located in some of Minnesota’s most beautiful and robust communities. I have long-admired Omni Broadcasting, and I am especially excited to work with Mike Boen, Dave Vagle, Rick Youngbauer and the staffs in each of the markets.”
Patrick Communications was the seller’s exclusive broker for this transaction. Other terms of the transaction were not disclosed. The sale is expected to be finalized upon FCC approval and other customary closing conditions.
About Omni Broadcasting Company
Omni Broadcasting consists of the 16 stations that make up our Northern and Central Minnesota radio family. Our radio stations are committed to providing the best in local, regional and national news, weather, information, music, sports and engaging conversation. We also gladly accept our responsibility to serve our local communities, positively responding to local issues and concerns, supporting our friends and neighbors, making a difference in a meaningful way.
About Hubbard Broadcasting, Inc.
Started in 1923, Hubbard Broadcasting, Inc. is an American television and radio broadcasting corporation based in Minneapolis-St. Paul, Minnesota that was started by Stanley E. Hubbard. Hubbard Broadcasting operates radio stations and television stations in nine states. In addition to radio and television broadcast stations, other Hubbard Broadcasting companies include the satellite and cable networks ReelzChannel (launched in 2006) and Ovation TV, F&F Productions and the Hubbard Radio Network, which is used to distribute talk radio content to subscribing radio stations in Minnesota and North Dakota.
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Hubbard Radio – Ginny Morris (651) 642-4160/Dan Seeman (612) 803-2812
Omni Broadcasting – Lou Buron (218) 444-1500