Capitol Broadcasting Company Announces Radio Acquisitions

Capitol Broadcasting Company Announces Radio Acquisitions Expanding Radio Reach in Wilmington and Eastern NC

Capitol Broadcasting Company has agreed to purchase six radio stations in Wilmington, NC plus another FM station that will be relocated to the Rocky Mount/Wilson, NC ;area.

CBC is purchasing the six Wilmington stations from NextMedia Group, Inc. for $12,000,000.  The properties include:

CBC President Jim Goodmon says “Wilmington is a fast growing market.  Our television station — WILM Channel 10 — is doing well and we want to expand our presence there.  I met with the radio staff in Wilmington this week.  They are a great group that has built some outstanding radio stations.”

NextMedia Group, Inc. is a diversified out-of-home media company headquartered in Denver, Colorado.  NextMedia, through its subsidiaries and affiliates, owns and operates multiple radio stations and outdoor advertising properties in multiple markets throughout the United States. 

The sale requires FCC approval, which is expected in 90 to 120 days.

CBC has also reached agreement to buy WNCM (FM) 103.1, Garysburg, NC from Joyner Radio for $825,000.  The Class A station’s city of license will be moved to Sharpsburg, NC, pending FCC approval. 

Thanks to WRAL-TV’s John Harris for this capcom story.

 

 

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