URBan Radio Closes On WMSR, Doubles Size in '07
December 19, 2007 at 11:25 AM (PT)
URBAN RADIO COMMUNICATIONS announced that it has closed on the acquisition of WMSR/FLORENCE-MUSCLE SHOALS, AL from MALKAN BROADCASTING. The purchase puts the final touches ona major growth year for the Company, as URBAN RADIO doubled its size in 2007. from 12 stations at the close of 2006 to 24 stations, adding two new markets to its growing footprint.
The WMSR-FM transaction brings URBAN RADIO’s FLORENCE-MUSCLE SHOALS market to six stations and comes on the tail of the Company’s acquisition of 11 stations in the Meridian and Tupelo, MS markets from CLEAR CHANNEL during the Spring of this year.
"We are proud to add WMSR to our FLORENCE-MUSCLE SHOALS cluster and to expand our platform in MERIDIAN and TUPELO. Both are milestones in what has been a strong year for URBAN RADIO's strategy to strengthen our presence in the SOUTHEAST U.S.," said KEVIN WAGNER, Pres./CEO of URBAN RADIO. "We look forward to continuing to seek accretive acquisitions in our target space as we grow our business."
"KEVIN is a seasoned veteran in the radio industry; he knows the market and the audience. We are pleased at the opportunity to further support the Company as it fortifies its footprint in the SOUTHEASTERN U.S.," URBAN RADIO Chairman and 21st Century Group partner JOHN WARE stated.