Woodward Communications will increase its radio holdings to 11 stations if a just-announced sale of a four-station cluster goes through.
Bahakel Communications Inc. plans to sell its stations in Waterloo, Iowa, to Woodward, subject to FCC approval. The announcement was made by Bahakel President/CEO Beverly B. Poston and Woodward President/CEO Tom Yunt.
The stations are KOKZ(FM), KFMW(FM), KXEL(AM) and KWLO(AM). Price was $3.5 million. Jody McCoy of Media Services Group is the broker for the transaction and represents the seller.
Woodward currently has stations in the Green Bay and Appleton/Oshkosh, Wis., markets. The company owns other media outlets and is based in Dubuque, Iowa.
Yunt said in the statement, “The stations are well positioned with their heritages and formats and have a wonderful track record in serving their listeners and advertisers.”
Poston said Bahakel recently purchased an additional television station in Montgomery, Ala., and a radio station in Chattanooga, Tenn. “This is being done as some realignment of our properties.” Bahakel has six other radio stations in Colorado and Tennessee, plus six TV stations.