Audacy has announced it is selling its St. Louis cluster to Hoffmann Media Group.
What We Know: Hoffmann Media Group is the owner of several newspapers in California, Colorado, Florida, Michigan, and Missouri. The Hoffmann family announced its intention to purchase the NHL’s Pittsburgh Penguins late last year. Included in the sale are 96.3 R&B, 97.1 FM Talk, Y98 (Hot AC), Hot 98.7 (Hip Hop), 102.5 KEZK (AC), and 104.1 KMOX (news/talk). In a memo to staffers, Auadcy CEO Kelli Turner said the company wasn’t looking to offload the cluster. However, they believed the offer was too good to pass up.
What They Said: “While we were not actively looking to sell these stations, HF Companies presented an opportunity for the Company that ultimately made strong business sense for both parties … For our St. Louis colleagues, there are no anticipated changes to day-to-day operations, reporting structures, compensation or benefits as a result of today’s announcement. We recognize that news like this creates uncertainty, and we are committed to providing updates and transparency throughout the process.” -Audacy CEO Kelli Turner
What Remains Unclear: Financial terms of the deal were not disclosed. It is unclear what plans Hoffmann Media Group has for the cluster, in spite of Audacy’s statement.
What It Means: The St. Louis cluster for Audacy is home to some of its strongest news and talk radio brands in KMOX and 97.1 FM Talk. The news comes as a large surprise for that fact alone. It also marks the first foray into the radio space for Hoffmann Media Group, as it has previously only owned newspaper and digital news brands.
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Garrett Searight is Barrett Media’s News Editor, which includes writing daily news stories, features, and opinion columns. He joined Barrett Media in 2022 after a decade leading several radio brands in several formats, as well as a 5-year stint working in local television. In addition to his work with Barrett Media, he is a radio and TV play-by-play broadcaster. Reach out to him at Garrett@BarrettMedia.com.
