JH radio deal confirmed
Wednesday, March 07, 2007
By Ben Cannon
Jackson Hole Radio owner Jerry Lundquist confirmed on Monday that an
investment group organized through Blue Point Media has bought into
eight of his radio stations located in the western United States.
The four stations that make up Jackson Hole Radio – KSGT, KMTN, KZ95
and KJAX – as well as a station in West Yellowstone, Mont., and three
in Sun Valley, Idaho – are part of the buy-in. “We’re not leaving,”
Lundquist said Monday morning. “We’re bringing in new investors.”
After it was reported that some licensing permits had expired, there
was rumor that the cluster of stations had been sold outright and were
under new ownership.
In radio, as well as in other types of media, change of ownership is
generally a quiet affair, with employees kept in the dark until the new
management comes in – often with a new set of music playlists.
But Lundquist, who spends his time in Jackson and Connecticut and owns
other radio stations in the U.S., contends that the transaction will
have little effect on Jackson Hole Radio.
“This will represent no appreciable change” in staffing or programming, he said.
At press time, it was not disclosed whether Lundquist will retain
majority control, what share percentage of the eight stations he sold,
or how much money was involved in the deal.
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JH radio deal confirmed | Planet JH News Article: Business
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