NextMedia Group Sells 33 Radio Stations

Digity, LLC, an affiliate of Palm Beach Broadcasting, LLC, and NextMedia Group, Inc. announced today the execution of a definitive agreement for Digity’s purchase of substantially all the assets of NextMedia’s 33 radio stations.

Dean Goodman currently owns four West Palm Beach market stations under the Palm Beach Broadcasting umbrella and 26 stations in Iowa and Missouri under the Goodradio.TV name.

The price/terms was not been disclosed.  Other reports estimate the deal as worth $91M.

The stations are located in eight markets: Chicago, San Jose, Greenville-New Bern-Jacksonville, Canton, Saginaw, Milwaukee, Myrtle Beach and North Dallas.

The radio stations are:

• News/Talk WHBC-AM/Canton, OH
• Hot AC WHBC/Canton, OH
• Classic Hits WERV/Chicago
• Country WCCQ/Chicago
• News/Talk/Sports WJOL-AM/Chicago

• AC WSSR/Chicago
• Classic Rock WRXQ/Chicago
• Spanish Sports WKRS-AM/Chicago
• Hot AC WXLC/Chicago
• Country KMKT/Dallas
• AC KLAK/Dallas
• Classic Rock KMAD/Dallas

• Country WCEN/Saginaw, MI
• Hot AC WGER/Saginaw, MI
• News/Talk WSGW-AM/Saginaw, MI
• Sports WSGW/Saginaw, MI
• Urban AC WTLZ/Saginaw, MI
• AC KBAY/San Jose
• Hot AC KEZR/San Jose

• Standards WANG-AM/Greenville-New Bern-Jacksonville
• Urban AC WQSL/Greenville-New Bern-Jacksonville
• Urban AC WQZL/Greenville-New Bern-Jacksonville
• Classic Rock WXQR/Greenville-New Bern-Jacksonville
• Country WRNS-AM/FM/Greenville-New Bern-Jacksonville
• CHR WERO/Greenville-New Bern-Jacksonville

• Rock WIIL/Milwaukee
• Oldies WLIP/Milwaukee
• Modern Rock WKZQ/Myrtle Beach
• AC WMYB/Myrtle Beach
• Sports WRNN-AM/Myrtle Beach
• News/Talk WRNN/Myrtle Beach
• Classic Rock WYAV/Myrtle Beach

The transaction also includes two additional stations in the Chicago area, which are currently held by The Mile High Station Trust, LLC, that would be sold to Matrix Broadcasting, LLC.

In a news release Digity said it expects the transaction is expected to close in the first quarter of 2014, subject to antitrust and Federal Communications Commission approvals and other customary closing conditions.

Digity, LLC is a diversified local media, digital entertainment and event marketing company.