Reilly/Anastos Deal Closes
Brokers Frank Boyle and Dick Sharpe make the announcement of this $1.2 million sale that closed Friday. The Anastos Media Group 4 station cluster is sold to Joe Reilly's Empire Broadcasting Corporation. The stations are: WQAR-FM in Stillwater, WUAM-AM in Watervliet, WABY-AM in Mechanicsville, WVKZ-AM in Schenectady, and in Albany, W291BY. All stations are located in New York.
Reilly, President/CEO-Empire Broadcasting Corporation, had just completed 31 years as President of the New York State Broadcasters Association. Reilly buys back WQAR-FM, a station he sold to Ernie over 14 years ago. Ernie Anastos, Chairman/CEO of the Anastos Media Group, is the New York TV News Anchor for Fox's WNYW, Channel 5. These are the last market and radio stations owned by the Anastos Media Group.
The price was $1,200,000 -- All cash-asset sale. Brokers were Frank Boyle and Dick Sharpe, who represented the buyer and assisted both parties in the negotiations in this transaction.
(9/9/2012 11:55:52 PM) |
Frank Boyle and Joe Reilly....2 of the greatest guys I've ever met in the radio business. Congrats to both of you!
|- Barry O'Brien|
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