Neuhoff Media has closed on the sale of its eight radio stations in Decatur and Danville, IL, along with their digital news platforms, to Champaign Multimedia Group for $2 million. First announced in February, the sale comes as Neuhoff divests its entire radio portfolio.
The stations involved in the transaction include WSOY-AM/FM, WCZQ, WDZ-AM, WDZQ, and NowDecatur.com in Decatur, and WDAN-AM, WDNL, WRHK, and VermilionCountyFirst.com in Danville. Several FM translators are also included in the deal. The sale, facilitated by Kalil & Co., Inc., marks a significant shift as Neuhoff Media ends its radio division after nearly 70 years of broadcasting.
Champaign Multimedia already owned three radio signals in the Champaign market – WDWS-AM, WHMS, and WKIO.
Consultant Steve Wexler continues to serve as Neuhoff’s Interim CEO after the departure of Mike Hulvey to lead the RAB.
Neuhoff is in the process of selling another five-station cluster in Lafayette, IN to Saga Communications, who announced the $5.3 million purchase price during the company’s Q1 2024 earnings call on May 9. Saga is acquiring WKOA, WKHY, WASK, WXXB, WASK-AM, and W269DJ, with Kalil & Co., Inc. again acting as the exclusive broker.
Neuhoff’s only remaining stations are in Bloomington and Springfield, IL. Plans for those stations are, as of yet, unknown.
