Stinson Leonard Street Represents Long-Time Client Hubbard Broadcasting in Anticipated Acquisition of 16 Minnesota Radio Stations
Stinson Leonard Street LLP is representing long-time client and Twin Cities-based broadcasting leader Hubbard Broadcasting, Inc., in efforts to expand its Minnesota operations in central and northern Minnesota.
On Thursday, November 13, Hubbard entered into an asset purchase agreement with Omni Broadcasting Company to acquire 16 radio stations in the Alexandria, Bemidji, Brainerd and Wadena markets. The transaction is slated to close pending Federal Communications Commission (FCC) approval. The financial terms of the sale are confidential.
The 16 stations involved in the transaction are: KIKV-FM 100.7, KULO-FM 94.3, KKZY-FM 95.5, KLLZ-FM 99.1, KBHP-FM 101.1, WQXJ-FM 104.5, KBUN-AM 1450, WJJY-FM 106.7, KLIZ-FM 107.5, KBLB-FM 93.3, KVBR-AM 1340, KUAL-FM 103.5, KLIZ-AM 1380, KKWS-FM 105.9, KWAD-AM 920 and KNSP-AM 1430.
Through the acquisition, Hubbard Broadcasting will add 100 employees. The company expects no programming or personnel changes for any of the acquired stations.
>> Read more about Hubbard Broadcasting’s latest acquisitions here.
The Stinson Leonard Street team advising Hubbard Broadcasting was led by partner Mark Weitz and included fellow attorneys David Jenson, Rob Rominski and Steve Mayeron. The firm represents some of the region’s largest and most innovative corporations like Hubbard through all facets of their legal and business needs.
Established in 1923, Hubbard Broadcasting, Inc. is an American television and radio broadcasting corporation based in Minneapolis-St. Paul, Minnesota that was started by Stanley E. Hubbard. Hubbard Broadcasting operates radio stations and television stations in nine states. In addition to radio and television broadcast stations, other Hubbard Broadcasting companies include the satellite and cable networks ReelzChannel (launched in 2006) and Ovation TV, F&F Productions and the Hubbard Radio Network, which is used to distribute talk radio content to subscribing radio stations in Minnesota and North Dakota.