Midwest Communications Acquires South Central
Update 6/2: Midwest is paying $72 million for the nine South Central stations.
Original Report 5/28: Midwest Communications is expanding to the South Central as it acquires South Central Communication’s 9 stations in three markets for an undisclosed price. As first reported this morning by Tom Taylor Now, the deal comes following the collapse of a long expected purchase of South Central’s stations by Summit Media.
The purchase will expand Midwest beyond its existing footprint into Evansville, Knoxville, and Nashville. Joining Midwest are the following stations:
Update 5/29: The LMA of Variety Hits “107.1 Jack-FM” WEJK from South Central subsidiary Boonville Broadcasting is not involved in the sale as it would not fit under the ownership cap for Midwest. It was grandfathered in for South Central under previous ownership rules.
South Central CEO JP Engelbrecht said, “We have found a great steward for our radio stations and people in Midwest Communications. Their CEO, Duke Wright, and his family are good broadcasters who will build upon the legacy created by our outstanding team.”
Midwest CEO Duke Wright added, “We feel extremely fortunate to be acquiring one of America’s best run radio groups. As both South Central and Midwest are entirely family owned with both families being in the radio business for well over 50 years we feel there is a lot of commonality between the companies. I’m certain we will have much to share with each other.”
South Central has been owned by the Engelbrecht family since its formation in Evansville in 1946. It had currently been run by the second and third generation of family members, John David Engelbrecht and son JP Engelbrecht.
The Wisconsin based Midwest currently owns 65 stations in Indiana, Michigan, Minnesota, North Dakota, South Dakota, and Wisconsin. The Wright family has controlled the company since it was founded in 1958 with the purchase of WRIG Wausau.