Schurz Layfayette Radio Sale On-Track
Five Schurz radio stations in Layfayette, La. are set to change hands by next month.
That’s according to Neuhoff Communications CEO Beth Neuhoff; the company is acquiring the stations from Schurz for $8M, pending FCC approval.
The stations are: WKHY(FM), WKOA(FM), WASK(FM), WXXB(FM) and WASK(AM).
With the acquisition, Neuhoff will own 20 radio assets across Illinois and Indiana, according to the Layfayette Courier and Journal.
We reported in December the Justice Department has cleared the way for the sales to proceed; they still need FCC approval. In September, Gray announced it would acquire all the Schurz TV and radio stations for about $442.5 million. In November, Gray decided to sell the radio assets. So when the Gray-Schurz deal closes, Schurz will sell its radio stations in South Bend to Mid-West Family Broadcast Group; its stations in Lafayette, La. to Neuhoff Communications and its stations in Rapid City, S.K. to The HomeSlice Group. The three owners will pay a total of $16 million to Schurz, which in turn, reduces its payment to Gray.