Iliad Media Group is paying $5.3 million for Montana Radio Company.
The deal is structured with $600,000 due at closing and $4,700,000 held by the sellers in a promissory note.
Original Report 2/19: Iliad Media Group, which owns fourteen stations in Boise and Twin Falls ID, has announced the acquisition of Kevin Terry’s Montana Radio Company with its nine brands in Helena MT.
Terms of the deal were not disclosed. All thirty of MRC’s employees will become part of Iliad’s employee stock ownership program giving them ownership stakes in the combined company. The company states, “This strategic move expands Iliad’s footprint in the media market and enhances job security and career longevity for all employees involved.” All of Montana Radio Company’s current management structure and branding will be retained.
Iliad President/CEO Darrell Calton said, “We are excited to welcome The Montana Radio Company into the Iliad family. Our shared values of employee ownership and community-focused broadcasting make this merging of radio cultures so promising.”
Montana Radio Company CEO Kevin Terry commented, “Joining forces with Iliad Media Group aligns perfectly with our vision of fostering a workplace where employees have a stake in the company’s success. This move ensures that our team in Montana will enjoy not only job security but also pride in ownership.”
The stations included in the deal are: Classic Hits “Rewind 94.9” K235BW Helena, Rock “Rock 96.3” K242CX Helena, Classic Country “99.5 The Bull” KBLL Helena, Classic Rock “Z101” KZMT Helena, CHR “Mix 102.3” KMXM Helena Valley Northeast, Variety Hits “104.5 Dave-FM” K283BP Helena, AC 105.3 KMTX Helena, Country “107.3 The Mighty Mo” KIMO Townsend/107.9 K300CR Canyon Creek, and Country “107.3 The Mighty Mo” KIMO Townsend/107.9 K300CR Canyon Creek.
