The owner of KMOX and several other St. Louis-area radio stations has agreed to sell its local portfolio to the Hoffmann Family of Companies.
The proposed deal, announced Monday, would significantly expand David Hoffmann's growing media holdings in the region. Hoffmann, founder and chairman of the Hoffmann Family of Companies, last year acquired a majority stake in the parent company of the St. Louis Post-Dispatch, Lee Enterprises.
Under the terms of the agreement, Audacy would sell KMOX (1120 AM/104.1 FM) along with five additional St. Louis radio brands to Hoffmann. The other stations in the deal are:
- 102.5 (KEZK-FM)
- Y98 (KYKY-FM)
- 96.3 R&B (WFUN-FM)
- 97.1 FM Talk (KFTK-FM)
- Hot 98.7 (WHHL-FM)
"This is a deliberate step to accelerate the expansion of our media platform and establish it as one of the largest print and digital news organizations in the United States," Hoffmann said in a statement. "With our planned acquisitions, combined with our existing portfolio of 154 newspapers and our expansion into radio, we expect to become the second-largest media company in the United States by year-end."
The Hoffmann Family of Companies has expanded aggressively in recent years beyond media acquisitions. Recently, the organization announced plans to purchase the NHL's Pittsburgh Penguins.
The radio acquisition remains subject to Federal Communications Commission approval.
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