Woodward Communications has officially completed the acquisition of seven Illinois radio stations from Neuhoff Media. The deal, which was finalized on October 1, expands Woodward’s presence in Springfield and Bloomington.
The new additions in Springfield include 104.5 WFMB, Sports Radio 92.3 and 1450 (WFMB-AM/FM), 99.7 The Mix (WXAJ), 96.7 BOB FM (WCVS), and Channel 1450, a digital platform focused on high school sports. Bloomington acquisitions are Rock 96.7 (WIHN), NOW 100.7 (WWHX), and BOB FM 97.9 (WBBE).
The final purchase price was $4.3 million, per FCC filings. Kalil & Co. represented Neuhoff in the sale and Greg Guy’s Tideline served as Woodward’s broker.
Woodward Communications President and CEO Tom Woodward commented, “We are pleased to announce that today we successfully consummated the acquisition of Neuhoff Media’s radio stations and brands in Springfield and Bloomington, IL. Over the past couple of months, we have shared ideas and aspirations, which has created positive momentum and energy to enhance our capabilities in serving our customers and communities.”
Woodward markets include the greater Dubuque, IA area, the Fox Cities region in Northeast Wisconsin, Madison, WI, and Providence, RI.
The Neuhoff Family Limited Partnership, which operated 24 broadcast signals and digital platforms across five radio markets in central Illinois and west central Indiana, announced its intention to leave the radio business in February. Champaign Multimedia Group bought Neuhoff’s Decatur and Danville clusters, while Saga Communications purchased six signals in Lafayette.
