The FCC filing reveals that Dirk Nadon’s Lakes Media LLC. will pay $2.6 million for the three Great Eastern Radio stations in the New Hampshire’s Lakes Region.
Original Report 5/12: Great Eastern Radio has announced the sale of Sports 101.5 WZEI Meredith, Classic Rock “104.9 The Hawk” WLKZ Wolfeboro, and News/Talk “107.7 The Pulse” WTPL Hillsboro NH to Dirk Nadon’s Lakes Media LLC.
Nadon currently serves as VP/Engineering for Binnie Media, which owns a competing cluster in the Lakes Region of New Hampshire. He co-founded one of the stations in the deal, 101.5 WZEI as WMRQ in 1988 until selling it in 1994. Nadon has also served as OM for Curt Gowdy’s 93.7 WCGY Boston in on-air and programming roles at many New England stations.
No terms of the deal were announced, but Richard Foreman & Associates served as broker for Great Eastern Radio in the deal.
Great Eastern Radio LLC announced today that it has reached an agreement to sell three FM radio stations to Lakes Media LLC for an undisclosed price. The stations include WLKZ “The Hawk 104.9” (Wolfeboro, NH) WZEI “Sportsradio 101.5” (Meredith, NH) as well as WTPL “the Pulse 107.7” (Hillsboro, NH). Lakes Media LLC will take over operations of the stations upon receiving FCC approval and the subsequent closing on the transaction.
Lakes Media is owned by long time New Hampshire broadcaster/engineer Dirk Nadon who said, “I am very excited to return to ownership in New Hampshire radio which began when my father and I originally put on the air the 101.5 frequency that I am re-purchasing in this transaction. I feel like it is a coming home for this station and for me.” WLKZ serves the Lakes Region of NH with a rock format along with Greg and the Morning Buzz syndicated from I-Heart Media in Portsmouth NH. WZEI features the sports talk format of WEEI in Boston along with the Red Sox for the Lakes Region. WTPL serves the Concord/Manchester market with a local talk/sports format along with play by play of major sports teams like the Red Sox.
Great Eastern Radio, based in Hanover, NH, owns 16 radio stations in NH and VT. It is headed by long time New England radio station owner Jeff Shapiro who said, “We weren’t looking to sell any radio stations but we were approached by Lakes Media with a transaction that made sense to us. It made it an easier process knowing the stations would stay in local hands. This will allow us to focus on our other clusters in New England and growing our stations to their full potential.”
Richard A. Foreman Associates, Inc. of Stamford advised Great Eastern Radio LLC on this transaction.