New Northwest CEO Exits, Starts Own Group
April 28, 2009 at 5:16 AM (PT)
NEW NORTHWEST BROADCASTERS and its current Pres./CEO PETE BENEDETTI jointly announced TODAY that they have entered into an agreement to sell NNB’s 5 BILLINGS radio stations to a new company, BMG BILLINGS, LLC, headed by BENEDETTI. BENEDETTI will resign his post as NNB’s CEO. He will be replaced as CEO by current EVP/CFO TRILA BUMSTEAD. BMG Billings, LLC will begin operating the stations under an LMA on MAY 1st.
Commenting on the deal, BENEDETTI said, "This is a deal that that we have been discussing for awhile now and one that truly works for all parties. I am leaving on great terms and look forward to fulfilling my dream of founding my own company and building from the ground up. I would like to thank and acknowledge the entire team at NNB for their dedication and hard work and let them know how grateful I am to have worked with them.
"I’m delighted for both TRILA and for NNB that TRILA will be succeeding me as CEO. That was an important part of this plan. The continuity will be good and she deserves the opportunity. At the same time, I am excited to move onto the challenge of building a brand new company. We’ll create a dynamic, high-performance company that focuses on serving the local community with passionate employees. Once the BILLINGS stations are integrated, we will look to expand into new markets."
TRILA BUMSTEAD commented, "After 10 years of service here at NNB, I’m excited to take on the role as CEO. Since I joined NNB in early 1999, I have had the privilege to work with incredible people in all facets of radio. I wanted to thank PETE for his mentoring over the years and know he will be successful in this new business venture. I’m looking forward to helping our GM’s navigate what comes in 2009 and beyond. NNB will continue to focus on delivering superior customer service and supporting our communities’ interests while meeting local business’ advertising needs."
NNB is based in SEATTLE, WA. After the deal, the company will own and operate 31 stations in 6 markets; YAKIMA and TRI-CITIES, WA; ANCHORAGE and FAIRBANKS, AK; KLAMATH FALLS and ASTORIA, OR. The deal includes Country KGHL-F (98.5 THE WOLF), Sports KQBL, Top 40 KRSQ (HOT 101.9), Classic Country KGHL-A (THE MIGHTY 790), and Classic Rock KRPM (ROCK 107.5)