In a transaction that sees Tucson-based brokerage Kalil & Co. in an exclusive role, the Neuhoff Family has struck an agreement that will see it sell its radio stations in both Danville and Decatur, Ill.
The proposed sale, the Neuhoff Family Limited Partnership says, is part of “an overall strategic decision” to exit the broadcast industry after nearly 70 years.
The buyer is Champaign Multimedia Group.
A filing in the FCC’s LMS detailing the terms of the transactions is forthcoming.
With the Commission’s approval, it will sell the following stations:
- WSOY-AM & FM, WCZQ-FM, WDZ-AM and WDZQ-FM in Decatur, Ill.
- WDAN-AM, WDNL-FM, WRHK-FM in Danville, Ill.
The deal includes NowDecatur.com and VermilionCountyFirst.com, respectively.
Julian Hickman and Makena Neuhoff, trustees of the Neuhoff family, signed off on the transaction.
Hickman said, “We are proud of what broadcast ownership has meant to our family, our employees, and the markets we serve. Our grandfather, Roger Neuhoff, began his ownership in the business during the mid-1950s. He loved the broadcast industry and was proud of the way our radio and television stations served their local communities.”
Makena Neuhoff said, “We would like to thank the incredible teams of local broadcasters in Decatur and Danville. We are proud of their daily dedication to their listeners, clients, and communities.”
Hints of a possible sale emerged at the end of November 2023, when Neuhoff Media President Mike Hulvey was named as Erica Farber’s successor as the head of the Radio Advertising Bureau (RAB).
Hulvey said, “We are pleased to see the iconic local media brands of Neuhoff Media’s Danville and Decatur markets all brought together through this historic transaction with the Champaign Multimedia Group. The next chapter for the Danville and Decatur radio stations and digital platforms will create something very special for each community.”
Hulvey succeeded Beth Neuhoff in July 2022; Ms. Neuhoff founded a related entity, Neuhoff Communications in 2003, with her late husband, the son of Roger Neuhoff.
The Neuhoff Family Limited Partnership expects to make additional announcements regarding future agreements as the Neuhoff divestiture process moves forward, it said.
Neuhoff Family Limited Partnership and its local companies own and operate 24 broadcast signals, along with multiple digital platforms, in the Indiana market of Lafayette and in Bloomington-Normal and Springfield, Ill.
