Hubbard To Acquire Alpha Media West Palm Beach
Alpha Media has announced it has agreed to sell its six stations and one translator in West Palm Beach FL to Hubbard Radio.
While a contract has not yet been signed, Alpha states the two sides have agreed in principle on a deal which will send Hot AC 97.9 WRMF, Urban AC “X102.3” WMBX, Country 103.1 WIRK, AC “Sunny 107.9” WEAT, Urban “Beatz 96.3” W242CI, Sports “640 The Hurricane” WMEN and News/Talk 850 WFTL to Hubbard.
INSTANT INSIGHT: The deal announcement comes just after Hubbard Radio CEO Ginny Morris stated she was skeptical about needing to grow for the sake of growing. Obviously Hubbard sees West Palm Beach as a way to get better. Meanwhile, the Alpha programmers all found out about the loss of the company’s third biggest market via the press release being sent while at a corporate dinner.
“Radio is a local business. We don’t have to be bigger. We will only get bigger is we can get better. Our industry is still trying to work out of the reckless we have to get bigger at any cost. If the FCC opens regulations, we can’t do that a second time” – Hubbard's Ginny Morris
— RadioInsight.com (@radioinsight) September 26, 2018
Alpha Media has reached an agreement in principle to sell its six radio stations in West Palm Beach to Hubbard Radio. [WRMF-WIRK-WMEN-WFTL-WEAT-WMBX]
Terms of the sale have not been disclosed, while Alpha says a definitive sales contract hasn’t yet been signed and is subject to satisfying any conditions contained in those agreements.
Alpha employs roughly 105 people in West Palm Beach, including full-time and part-time employees. The company has had a presence there since February 2016 when it purchased the stations from Digity LLC.
The exit from West Palm Beach leaves Alpha with 213 stations in 46 markets around the country. The company has been selling off assets to lower its debt leverage.