It’s not the Canadian communications company with the same name that disappeared in 2023. Rather, it is a multimedia operation serving Northern Illinois and in Central Iowa that is purchasing three FM radio stations due south of Chicago.
Shaw Local Media is moving forward with a transaction that sees it purchase WKAN-AM and W267CI in Kankakee, Ill.; WXNU-FM in St. Anne, Ill.; and WYKT-FM in Wilmington, Ill.
The seller is Staradio Corp. — led by President Howard Doss.
Shaw Media has been the home of “independent local news” since 1851, and it this Shaw, helmed by President/CEO John Rung.
With the erasure of the FCC’s cross-ownership rules three years ago, Shaw acquired the following stations in the LaSalle-Peru, Ill., market, from Studstill Media:
- WGLC-FM in Mendota, Ill.
- WALS-FM in Oglesby, Ill.
- WBZG-FM in Peru, Ill.
- WIVQ-FM in Spring Valley, Ill.
- WSPL-AM, WSTQ-FM & WYYS-FM and W253BX in Streator, Ill.
Now, it is adding within the Chicago DMA, at a price of $725,000.
At closing, a complete statement of accounts receivable will be given to Shaw Local Media. They have within 120 days to collect on behalf of Staradio what is owed, and subsequently present the funds to the seller.
Serving as the seller’s legal representative is Dan Kirkpatrick of BakerHostetler; for Shaw Local Media, it is David Oxenford of Wilkinson Barker Knauer LLP.
Staradio will remain a licensee as it owns radio stations in Montana and in the Quincy, Ill., area.
Serving as Staradio’s broker of record is George Reed of Media Services Group in Ponte Vedra, Fla.
