Audacy and Hoffman Media Group have filed their deal for Audacy’s St. Louis cluster with the FCC.
Hoffman Media Group will pay $20 million for the Audacy St. Louis cluster.
Included in the sale are Adult R&B “96.3 R&B” WFUN-FM St. Louis, Conservative Talk “97.1 FM Talk” KFTK-FM Florrisant, Hot AC “Y98” KYKY St. Louis, AC 102.5 KEZK St. Louis, News/Talk 1120 KMOX St. Louis/104.1 KMOX-FM Hazelwood, and Hip Hop “Hot 98.7” K254CR St. Louis/KEZK-HD2.
Original Report 6/29: Audacy has announced it has agreed to sell its St. Louis stations to Hoffmann Media Group, a a part of the Winnetka IL based HF Companies.
Hoffman Media Group owns multiple newspapers across the country, and its parent organization recently acquired the NHL’s Pittsburgh Penguins. Among their holding is the St. Louis Post-Dispatch newspaper.
Hoffman Founder & Chairman David Hoffman said, “This is a deliberate step to accelerate the expansion of our media platform and establish it as one of the largest print and digital news organizations in the United States. We are building a scaled, multi-platform network that combines print, digital, and broadcast to deliver trusted journalism and meaningful community connection. Talk radio is a natural extension of that vision and a powerful driver of our long-term growth.”
He followed, “With our planned acquisitions, combined with our existing portfolio of 154 newspapers and our expansion into radio, we expect to become the second-largest media company in the United States by year-end.”
In a memo to employees, Audacy CEO Kelli Turner said, “While we were not actively looking to sell these stations, HF Companies presented an opportunity for the Company that ultimately made strong business sense for both parties. As always, the transaction remains subject to FCC approval and other customary closing conditions.”
Turner continued, “For our St. Louis colleagues, there are no anticipated changes to day-to-day operations, reporting structures, compensation or benefits as a result of today’s announcement. We recognize that news like this creates uncertainty, and we are committed to providing updates and transparency throughout the process.”
“HF Companies has expressed a strong commitment to local media and to investing in the iconic brands that have served St. Louis listeners for decades. We believe these stations will continue to play an important role in the community while benefiting from an owner focused on the market’s long-term success.”
“For Audacy, this transaction reflects the continued value of our strong local media assets and provides us with more resources to invest in markets and initiatives with the highest potential to drive our growth. Our strategy and our commitment to local audio, our audiences, our advertisers, and the communities we serve across the country remain unchanged. We appreciate the continued professionalism and passion of our St. Louis team as we work through this process. We’ll miss our close collaboration and partnership, but we’ll be rooting everyone on as this next chapter begins.”
Former Audacy St. Louis SVP/Market Manager Becky Domyan will return to the cluster to run it for Hoffman. Domyan led the cluster from 2018 until its elimination of the Market Manager position in April after previously holding multiple sales roles at Emmis St. Louis rising from account executive in 2006 to General Sales Manager and Director of sales for 96.3 KNOW and 105.7 KPNT. During her tenure at Audacy, Domyan also spent time running the Wichita KS cluster.
