The Glass-Enclosed Nerve Center has a new owner. Local news radio station WTOP has been sold, along with 16 other stations, to Hubbard Broadcasting, Inc., the company announced today.
"The company expects no programming or personnel changes for any of the acquired radio stations subsequent to the transaction," Hubbard Broadcasting said in a press release.
The stations were purchased for $505 million from Bonneville International Corporation, which before the deal owned and operated 31 radio stations in several major cities. Bonneville will continue to run its remaining 14 stations, but CEO Bruce Reese will assume that role for Hubbard.
WTOP is the D.C. area's most popular radio station. The format of WTOP will not change, reporter Paul Farhi told the Washington Post.
3 comments:
According to 2 different sources, WASH-FM is the #1 station in the DC market, with WTOP being #2.
10:29pm--depends what age group you are looking at. But who cares when you get $505 million!!! LOL
WoW--a half a billion dollars. Nice. Didn't realize radio stations were that much in demand.
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