Hubbard Radio, LLC Announces Agreement to Purchase 10 Radio Stations from Sandusky Radio for $85.5 Million
Acquisition Expands Company into Seattle and Phoenix Markets
MINNEAPOLIS & ST. PAUL, Minn.–(BUSINESS WIRE)–Hubbard Radio, LLC announced today that the company has entered into an asset purchase agreement to acquire 10 radio stations from privately held Sandusky Radio. The acquisition expands Hubbard Radio by adding five radio stations in Seattle and five in Phoenix.
“This is an exciting opportunity to expand Hubbard Radio into two top 20 markets”, said Virginia (Ginny) Morris, board chair of Hubbard Radio, LLC
“We have known and respected the Rau/White family, Sandusky’s owners, for many years. We admire what they have accomplished and we are honored that they would agree to sell us these established stations. We are committed to maintaining the dedication to excellence and to community that Sandusky has made such an important part of their radio operations.”
According to the latest Arbitron Radio Market Rankings, the Seattle-Tacoma area ranked as the 13th largest among all U.S. radio markets, with Phoenix ranked as the 14th largest…
Read the full press release: LINK.
What does this mean for radio advertisers in Seattle? Likely, not too much. Hubbard is a good operator; and Seattle remains a highly-competitive market. Phoenix radio has strong competition and remains a challenge for even experienced media buyers. Of course, all traditional radio is challenged by Apple, Amazon, Google, Microsoft, Sirius XM, Pandora, Jango, Last.fm, iHeart Radio, Ubuntu, Spotify, Grooveshark and many, many others. More consolidation to come in the radio industry? Definitely! Stay tuned…