On July 1, paperwork was filed at the FCC reflecting the end of an era for Neuhoff Media, which shared five months earlier that it would exit the broadcast industry after nearly 70 years. Now, the sale of its final seven stations, located in the Illinois cities of Springfield and Bloomington, in a transaction brokered by Kalil & Co. and Tideline Partners has closed.
With Tucson-based Kalil & Co. representing Neuhoff and Greg Guy-led Tideline serving as the buyer’s broker, Sports and Country combo WFMB-AM & FM, WCVS-FM “BOB FM”, WXAJ-FM “99.7 The Mix” and “Channel1450.com” in Springfield, Ill. were sold along with WBBE-FM “BOB FM”, WIHN-FM “Rock 96.7” and WWHX-FM “NOW 100.7” in Bloomington, Ill., to Woodward Communications.
The FCC granted the transfer of control of the stations on September 26.
With Julian Hickman signing off on the sale on behalf of Neuhoff and Brad Deutsch of Foster Garvey as its legal counsel, Neuhoff is paying $4.3 million for the group of radio stations. A $215,000 escrow payment has been applied to the total price.
Serving as Woodward’s legal counsel is Kathleen Kirby of Wiley Law.
