in an announcement first shared by local media in Central New York, the radio broadcasting company founded by auto dealer owner Jim Morrell is acquiring the radio stations owned by Galaxy Media.
Albany-based Pamal Broadcasting has agreed to purchase Galaxy’s 10 radio stations in Syracuse and Utica, for an undisclosed amount, the companies announced Tuesday, Syracuse.com reports. Various other trade publications also reported on the news; RBR+TVBR was not shared a press release it independently verified the transaction early Wednesday.
Immediate control of the Galaxy stations comes tomorrow (10/1). An LMA ahead of the purchase was agreed upon.
Pamal will therefore immediately take over “TK99” 99.5/105.5 (classic rock); “K-Rock” 100.9 (rock); “Sunny 102” 102.1 (classic hits) and “ESPN Syracuse” 1200 (sports) in Syracuse and the following statins in Rome-Utica: “K-Rock” 94.9 (rock); “Mix 102.5” (mixed); “ Tony 99.1″ (variety); and “ESPN Utica/Rome” 96.5 (sports).
Galaxy’s events business assets Taste of Syracuse and the Syracuse Nationals were previously sold to businessman A. Louis Santaro earlier this year, following settlement of a lawsuit over an unpaid $1.1 million loan to Levine, the Post-Standard reports.
Galaxy, founded by CEO Levine, revealed his retirement plans in August. He founded Galaxy Media Partners in 1990 with a single radio station: WKLL, famously operating out of a diner in Utica.
“I have been fortunate to live out a lifelong dream of mine for the past 36 years,” Levine said in a statement. “Time and life march on. While I will miss Galaxy and Syracuse/Utica, I could not be happier to hand things off to Pamal Broadcasting.”
Pamal was founded by Morrell in Albany in 1987. He and his family own 19 radio stations in the Capital District, Poughkeepsie and in Rutland, Vt.
Morrell said, “With this addition, Pamal stations cover an enormous geography ranging from New York City, Long Island and Northern New Jersey, through the entire Hudson Valley to the Capital District, up to Lake George and now out through Utica and Syracuse,” he said. “It truly is a great opportunity for us all.”
