CHICAGO (MCT) — NextMedia Group has reached a deal to sell its 33 radio stations — including at least 7 in Illinois — to Digity LLC, a newly formed company headed by broadcast industry veteran Dean Goodman.
Financial terms of the deal weren't disclosed. In Illinois, NextMedia stations are in Waukegan and the Joliet-Aurora market.
In Waukegan, they are ESPN Spanish sports channel WKRS 1220 AM and WXLC 102.3 FM. In Joliet and Aurora, they include rock and roll station 95.9 "The River" (WERV), WCCQ 98.3, WSSR 96.7, WRXQ 100.7 and WJOL 1340 AM.
NextMedia has been owned by a private equity firm since it emerged from bankruptcy in 2010. Since then, the company said it has worked to bolster its core business so it could be in a position to sell the stations.
The deal is expected to close in the first three months of next year. NextMedia will continue to operate the stations as normal until that time.
(c)2013 the Chicago Tribune