Stephens Media Group Purchase Price For Ingstad Radio Washington
Stephens Media will pay $10.725 million for Ingstads’ twelve stations and two translators in Kennewick/Richland/Pasco and Yakima WA.
Original Report 4/2: Stephens Media Group has agreed to purchase fourteen stations in the Kennewick/Richland/Pasco and Yakima markets from Ingstad Radio Washington for an undisclosed price.
The deal will bring the Tulsa based Stephens up to 41 stations nationally including their home market and Rochester and Watertown NY. Stephens began operating the stations via LMA on Sunday, April 1.
The stations involved in the deal are:
Kennewick/Richland/Pasco: Country “94.9 The Wolf” KIOK Richland, AC “95.7 More-FM” KKSR Walla Walla, CHR “Power 99.1” KUJ-FM Burbank, Classic Rock “Eagle 106.5” KEGX Richland, Classic Hits “Big 106.1” 960 KALE/106.1 K291BS Richland, and Sports “ESPN 1340” KJOX Kennewick.
Yakima: Rhythmic CHR “Hot 99.7” KHHK Yakima, Classic Hits “100.9 Cherry-FM” KARY Grandview, Country 104.1 KXDD Yakima, Classic Rock “105.7 The Hawk” KRSE Yakima, Hot AC “Big 106.1” K291BV Wapato/KHHK-HD2, Active Rock “106.9 XFM” K295BT Wapato/KHHK-HD3, Sports “ESPN Deportes 980” KTCR Selah, and Sports “The Fan 1390/104.5” KBBO Yakima/K283BX Wapato.
Stephens Media Group has signed an agreement to purchase fourteen radio stations in Yakima and Tri Cities, Washington from Ingstad Radio, Washington, LLC.
“These radio stations represent exactly what we look for when buying,” said Stephens Media Group owner, David Stephens.
“A diverse portfolio of formats, a strong commitment to the community, and an accomplished team already in place give us everything we need for a successful launch.”
“We’ve enjoyed working with the great people at Tri Cities and Yakima. We’re confident to hand off this high quality operation to Stephens Media Group, knowing they will continue their commitment to great local radio,” said Ingstad Radio Washington COO, Nancy Odney.
Stephens Media Group began operating the stations via an LMA on April 1st.
The acquisition of these properties will give Stephens Media Group forty-one stations over eight markets in Oklahoma, New York, and Washington.
MVP Capital represented Ingstad Washington in this transaction.