Six Wabash Valley radio stations have new owners. Indianapolis-based Emmis Communications Corp. (Nasdaq:EMMS) has sold WWVR-FM 105.5 The River in West Terre Haute, WFNB-FM B92.7 in Brazil and WFNF-AM 1130AM/99.5FM The Fan in Terre Haute to Daviess County-based DLC Media Inc. Midwest Communications Inc. of Wisconsin will take on long-time ratings powerhouse WTHI-FM 99.9 FM in Terre Haute. Due to federal ownership limits, Midwest has also agreed to sell WDKE-FM in Vigo County to DLC Media.
The deals are valued at more than $5 million, the vast majority of which is for WTHI and the intellectual property of WWVR.
Emmis Chief Executive Officer Jeff Smulyan says "the sale of our stations in Terre Haute, while difficult, will help us further our goal of de-levering our balance sheet. We are thrilled the buyers value radio and have long traditions of success in smaller markets, like Terre Haute. I’d also like to thank our people at these stations. They have been tremendous stewards of their brands and wonderful ambassadors of Emmis’ culture. We wish them continued success."
DLC Media President Dave Crooks told WAMW-FM in Washington the deals have been in the works for months. He adds the additional stations bring the company’s total to 10, including recently-acquired WAKO-FM and WAKO-AM in Lawrenceville, Illinois.
You can connect to more about the deals by clicking here.