Bonneville Sells WTOP Radio

Bonneville Sells WTOP Radio
 
Washington DC’s leading radio station, all-news WTOP, will be sold by Bonneville International, along with 16 other stations in and around Chicago, St. Louis and Cincinnati. The buyer is privately held Hubbard Broadcasting of St. Paul, Minnesota. Sale price for all 17 stations: $505 million. The deal is expected to be finalized by May after FCC and anti-trust reviews.

Hubbard currently owns four radio stations and 12 television stations in Minnesota, New York and New Mexico as well as F & F Productions and the ReelzChannel cable-and-satellite network. Bonneville (owned by Deseret Management Corporation, the for-profit arm of The Church of Jesus Christ of Latter-day Saints) will still own stations in Arizona, California, Utah and Washington state.

The Washington Post website has some nice interactive features on WTOP’s history.

 

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

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One Response to “Bonneville Sells WTOP Radio”

  1. tdl1501 Says:

    Dee writes from Utah:

    I’m sure this is not the only for-profit enterprise of the LDS church. You said “the.” If there’s one for-profit arm there are surely others. I live literally above the fray, where there’s actually a Catholic church and Synagogue, across the street from each other. Imagine that.

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