Timothy Milner’s Milner Broadcasting Enterprises is selling his four station cluster in Kankakee IL to a new company with a similar name. Milner Media Partners will acquire Oldies “92.7 The Valley” WVLI Kankakee/96.1 W241BS Bourbonnais, CHR 95.1 WFAV Kankakee and Country “River Country 101.7” WIVR Kentland IN/103.7 WYUR Gilman IL for 5.374 times the Adjusted Net Operating Income generated between April 1, 2017 and March 31, 2018. Timothy Milner will remain part of the new group holding the position of CEO, but having just a 2% ownership stake. The remainder of the new company will be held by former Triad Broadcasting CEO David Benjamin, former KGO San Francisco General Manager Mickey Luckoff, and Robby Markose’s R2 Investments LLC each with a 32.66% stak...[Read More]
Milner Broadcasting is shuffling the formats at three of its stations in Kankakee, IL. CHR 103.7 WFAV will move to 95.1, which had been the home of Oldies “The Valley” WVLI-FM.. 92.7 WKIF, which was acquired by Milner earlier this year will become the home of “The Valley“. WKIF and WVLI-FM have been simulcasting since August. 103.7 will debut a new, as yet announced format in January. No timetable for the move of WFAV has been announced yet. In addition to the three aforementioned stations, Milner also owns “River Country 101.7” WIVR.