Regent Can Proceed With Brill Purchase

Regent Communications said it has won the OK from a bankruptcy court to acquire a dozen stations from Brill Media Co. and its debtors. The deal will bring Regents’ holdings to 73 stations in 17 markets. Regent hopes to close the transaction by early next year and expects to begin operating the properties by the middle of next month.
Regent will pay $62 million in cash and stock for WIOV(FM-AM) in Lancaster-Reading, Pa.; WBKR(FM), WKDQ(FM) and WOMI(AM) in Evansville, Ind., and Owensboro, Ky.; KTRR(FM) and KUAD(FM) plus an FM CP in Ft. Collins-Greeley, Colo.; and KKCB(FM), KLDJ(FM), KBMX(FM) and WEBC(AM) in Duluth, Minn. Regent trades on NASDAQ under the symbol RGCI.