In the vast majority of cases, a press release from a media broker signals the consummation or closing of a transaction involving the transfer of control of a radio or television station. Sometimes, they involve a broadcast tower.
Now, one broker has helped bring together a radio industry buyer and a seller in a somewhat different way. Two public affairs programs are being dealt.
Chicago-based MediaTracks Incorporated has sold “Radio Health Journal” and
“Viewpoints Radio.”
The buyer is New York-based American Urban Radio Networks, the entity led by Chesley Maddox-Dorsey.
The programs are the two most widely syndicated weekly radio public affairs
programs in the U.S., airing on a total of nearly 1,500 stations in more than 200
U.S. markets.
Signing off on the sale on behalf of MediaTracks are Shel Lustig and Reed Pence.
Terms were not disclosed.
But, it is known that Bob Heymann of the Chicago office of Media Services Group served as the exclusive broker for MediaTracks in this transaction — Heymann’s first one in a while not to involve a low-power television station.
