46 employees will become employee-owners of Iliad Media Group Holdings. The company says the Employee Stock Ownership Plan will allow Iliad to maintain its long-term commitment to staying local by joining only 42 other ESOPs in Idaho.
The multi-media company has a long tradition of being the only locally owned, privately held, large commercial radio cluster in the Boise market since 2007 and enjoys a 26-year history of commercial radio presence in Twin Falls, Idaho.
“One of the biggest concerns that the ownership and I had about the company was not the year-to-year successes, but the decade-to-decade success. Many independent business owners struggle with what to do about the march of time regarding estate and business planning,” said Darrell Calton, President/CEO. “We are so fortunate to have an owner that wants to recognize the efforts of our long-term employees and wants to put the future of the business in our hands. This ESOP business transition tool is precisely what we all needed.”
Iliad Media Group will continue to operate as usual, managing digital and commercial radio distribution channels in Boise and Twin Falls, Idaho. Upon final FCC approval of the sale, Iliad Media Group Holdings, will own and operate eight radio channels in Boise, Idaho, and six in Twin Falls, Idaho. Iliad Media Group will become one of only four radio broadcast companies in the United States that are employee-owned.
