After receiving regulatory approval, Triad Broadcasting has closed on its $37 million deal to purchase four stations in Peoria from JMP Media. The deal adds to Triad’s portfolio of small and mid-sized market radio stations. With the four new stations in Illinois, the company’s holdings now number 49 stations in eight markets that are either owned, operated or being acquired by Triad.
The cluster in Peoria will be operated as the JMP Radio Group, a wholly owned subsidiary of Triad. The cluster is a mix of format-targeted, high rating stations; the stations are WSWT(FM) adult contemporary, WPBG(FM) oldies, news/talk WMBD(AM) and sports WWFS(AM).
JMP President Mile Wild developed and managed the cluster prior to agreeing to sell the stations to Triad in December 2002. Wild continued with JMP as vice president and marketing manager and will continue to lead the cluster as part of Triad Broadcasting. Under terms of the agreement, Wild assumes an equity ownership position in the station group.
Triad Closes $37 Million Peoria Buy
Triad Closes $37 Million Peoria Buy
