Neuhoff to Sell Remaining Radio Stations to Woodward Communications
Neuhoff Family Limited Partnership announces that it has entered into an agreement to sell its Springfield and Bloomington, Illinois radio stations to Woodward Communications, Inc for a sum yet to be announced. The asset purchase agreement has not been filed with the FCC yet. The stations include sports talk WFMB-AM in Springfield and four music brands plus three music FMs in the Bloomington market. This transaction
ends Neuhoff’s time in the radio business after almost 70 years. At one time, Neuhoff owned 24 stations – plus digital assets – in five markets. Woodward Communications, Inc operates eight stations – including news/talk WHBY-AM – in Appleton and Green Bay, Wisconsin. Neuhoff family trustee Julian Hickman says, “This final sale is bittersweet for our family, reflecting both a proud legacy and an emotional farewell. Our grandfather, Roger Neuhoff, poured his heart into the broadcast industry since the mid-1950s. The stations have been a vital part of our family and community, and while we cherish the incredible journey, it is time to turn the page.” Trustee Makena Neuhoff adds, “We would like to thank the incredible teams of local broadcasters in Springfield and Bloomington. We will forever cherish the memories and the significant impact our stations had on the local communities.”
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.