Community Broadcasters Announces Acquisition of Radio Stations Spanning Two Markets in Upstate New York

May 6, 2013

NEWS RELEASE

FORT DRUM, N.Y.   
Founded by radio industry veterans Jim Leven and Bruce Mittman, Community Broadcasters LLC, a broadcast company backed by Northwood Ventures LLC, is proud to announce that it has entered into an agreement to acquire seven additional radio stations spanning two new markets, bringing the total number of stations to 15 across four markets. 

The stations will be purchased from Backyard Broadcasting. Terms of the acquisition agreement, which was filed with the FCC today, were not disclosed. Five stations are added to Community Broadcasters family of stations in Elmira-Corning, NY and two stations are added in Olean, NY.  

Kalil & Co., Inc. is the exclusive broker of this acquisition.

The new stations that will join Community Broadcasters are as follows:

Elmira-Corning, NY

          WNKI-FM-106.1-#1 Hit Music Station

          WNGZ-FM-104.9-Classic Rock

          WPGI-FM-100.9-Country

          WWLZ-AM-820-News/Talk/Sports

          WRCE-AM-1490-Simulcast WNGZ-880-Classic Rock

 

Olean, NY

          WPIG-FM-95.7-Country

          WHDL-AM-1450-Oldies

“We are looking forward to working with the teams in Elmira-Corning and Olean to integrate the seven additional stations into the Community Broadcasters’ family of stations,” said Jim Leven, president & CEO, Community Broadcasters. “These new markets add to our cluster in upstate NY, further strengthening our position as a premiere broadcast entity in the region.”

“Knowing Community Broadcasters’ dedication to creating strong local radio I am pleased to see these leading stations add to their footprint in New York,” added Barry Drake, president & CEO, Backyard Broadcasting.

In the Watertown and Ogdensburg markets, Community Broadcasters currently owns the following stations:

Watertown, NY

          WBDR-FM-106.7-The Border-#1 Hit Music Station

          WOTT-FM-94.1-Rock

          WANT-FM-104.1 |AM-1240-News Talk

          WTOJ-FM-103.1-The Best Variety of Yesterday and Today

          WEFX-FM-100.7-The Eagle-New Country

 

Ogdensburg, NY

          WLFK-FM-95.3-The Wolf-Country Hits Back to Back

          WQTK-FM-92.7-The North Country’s News and Talk Authority

          WSLB-AM-1400-ESPN-Sports

 

Bruce Mittman, president & CEO of Mittcom, a Boston area advertising agency, and Jim Leven formed Community Broadcasters seven years ago with a goal of creating a small- to medium-sized market radio portfolio. Together, Mittman and Leven have owned and operated over 70 radio stations and this acquisition will further strengthen Community Broadcasters’ position as a radio leader in upstate New York.

About Community Broadcasters LLC
Founded by radio industry veterans Bruce Mittman and Jim Leven, Community Broadcasters will own 15 radio stations serving the upstate NY region, following the completion of the acquisition.

About Northwood Ventures LLC

Northwood Ventures partners exclusively with successful management teams to make equity investments in privately held companies.  Northwood invests in venture capital and management buyout opportunities in a broad range of industries, with a particular interest in the communications, retail/consumer, manufacturing, and financial services sectors. Northwood’s flexible and long-term philosophy allows us to creatively evaluate and structure our investments. Since our establishment in 1983, Northwood has invested in approximately 160 companies.






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