Ginny Morris/ photo by Jerry Holt
Hubbard Radio just keeps getting bigger.
The St. Paul-based company announced Thursday that it has entered an asset purchase agreement to buy 16 radio stations from Omni Broadcasting Company. The stations are in Alexandria, Bemidji, Brainerd and Wadena, strengthening Hubbard's presence in Minnesota.
"Hubbard Broadcasting is deeply committed to local radio and to Minnesota," said Ginny Morris, CEO of Hubbard Radio. "This is a great opportunity to expand the company's presence into some wonderful local communities."
The acquistion involves 100 employees.
As part of the deal, Dan Seeman, vice president and market manager for Hubbard Radio Minneapolis-St. Paul will expand his role as regional manager for all of Hubbard's state-wide radio operations.
This is a relatively minor deal for a company that has gone all in on radio in recent years. In 2013, Hubbard bought 10 radio stations from Sandusky Radio for $85.5 million. Three years ago, the company closed a $505 million purchase of 17 stations, including WTOP-AM in Washington DC., one of the country's most profitable stations.
The company now owns 46 stations across the country, including KSTP (1500 AM), KS95-FM and 107.1 FM.