Tag: depart

The Neuhoff Family Limited Partnership, the parent company of Neuhoff Media-Decatur, LLC and Neuhoff Media-Danville, LLC announces it is entering into an agreement to sell radio stations news/talk WSOY-AM/WSOY-FM, sports talk WDZ-AM, hip hop WCZQ-FM, and country in Decatur, Illinois (plus NowDecatur.com) and news/talk WDAN-AM, hot AC WDNL-FM, and classic rock WRHK-FM, in Danville, Illinois (plus VermilionCountyFirst.com) to Champaign Multimedia Group for a sum yet to be announced. Neuhoff states in announcing the sale that this “transaction is part of an overall strategic decision on behalf of the Neuhoff family to depart the broadcast industry after nearly 70 years,” according to Julian Hickman and Makena Neuhoff, trustees of the Neuhoff family. The company still owns 13 radio brands spread across the Springfield, Illinois; Bloomington, Illinois; and Lafayette, Indiana markets and it “expects to make additional announcements regarding future agreements as the Neuhoff divestiture process moves forward.” Hickman states, “We are proud of what broadcast ownership has meant to our family, our employees, and the markets we serve. Our grandfather, Roger Neuhoff, began his ownership in the business during the mid-1950s. He loved the broadcast industry and was proud of the way our radio and television stations served their local communities.” Neuhoff Media president Mike Hulvey adds, “We are pleased to see the iconic local media brands of Neuhoff Media’s Danville and Decatur markets all brought together through this historic transaction with the Champaign Multimedia Group. The next chapter for the Danville and Decatur radio stations and digital platforms will create something very special for each community.” Kalil & Co., Inc. acted as the exclusive broker for this transaction.