July 1, 2010


Deal with Rubber City Radio Group Closes

In a transaction which closed today, Midwest Communications Inc. acquired the Rubber City Radio Group Lansing, Michigan four station FM cluster - WJXQ, WJZL, WTXQ and WVIC, for an undisclosed amount.

WJXQ(FM) a class B, operates on 106.1mHz with 49kw an antenna height of 496' in active rock; WVIC(FM) also a class B at 551' operates on 94.1mHz in alternative format; WQTX(FM) a class A operates on 92.1mHz @400' with 4kw with classic hits/talk in the AM with U of M football-basketball, local Lug nuts baseball; while class A WJZL(FM) is on 92.9mHz with 5.4kw at 345' in the smooth jazz format.

The seller, Rubber City Radio Group, headed by Thomas Mandel, President also owns the dominant cluster in Akron, Ohio and has no other divestiture plans.

The buyer Midwest Communications, Inc, headed by Duke E. Wright, President & CEO and Gary Tesch, Executive Vice-President, owns 43 other radio properties, including Michigan clusters in the Kalamazoo and Grand Rapids markets.

Dick Foreman of Richard A. Foreman Associates, Inc. initiated the transaction and served as the exclusive broker in the transaction.