Steel City Media Acquires Wilks Kansas City
Update 6/18: The sale application has been filed with the FCC showing a purchase price of $105.5 million for the four stations.
The four licenses will be held by MGTF Media, LLC. Unlike the Pittsburgh stations, which are owned by Saul Frischling and his sons Gregg, Michael, and Todd, the Kansas City stations will be owned by just the sons.
Original Report 6/12: Pittsburgh’s Steel City Media is expanding to Kansas City with the purchase of the four Wilks Broadcasting stations in the market for an undisclosed amount.
Steel City will purchase CHR “Mix 93.3” KMXV, Country 94.1 KFKF, AC “KC 102.1” KCKC, and Country “Q104” 104.3 KBEQ in the deal. Steel City currently owns Hot AC “Q92.9” WLTJ and Variety Hits “96.9 Bob-FM” WRRK in the Pittsburgh market along with the Pittsburgh CityPaper.
Steel City Media is owned by the Frischling family. Saul Frischling owns 52% of the equity in the Pittsburgh stations with sons Gregg, Michael, and Todd each holding 16%. The sons own the newspaper independent of their father.
Wilks acquired the Kansas City stations along with three stations in Columbus, OH from CBS in 2006 for $138 million. Following the sale Wilks will still operate clusters in Columbus, Denver, Fresno, Lubbock, and Reno.