Wilson Continues to Write Checks
He's said for nearly a year now that the time is right to buy radio stations, with multiples in the 5-6 range. L & L CEO Larry Wilson is keeping his word, writing the checks and adding to his portfolio. With the announcement Monday that L & L would be purchasing 8 stations in San Antonio, Wilson is quickly approaching the 50 station mark (he now has 43). San Antonio is the largest market so far for L & L (#28) with recent purchases in mostly small markets such as Jackson, MI (#126) and Columbia, SC (#87) The majority of his growth has been in the past 10 months, starting with his purchase of Triad in December of 2012. Wilson said, “These are a great cluster of radio stations located in a beautiful market that are operated by a very talented group of people. We are excited to add them to our growing company.”
The stations were being operated by Larry Patrick who said, "We could not be happier to have found a wonderful home for our San Antonio stations. Larry Wilson and his L&L Broadcasting represent the best in broadcasting. We wish him continued great success with this cluster.” The eight stations in the Border Media Business Trust are KJXK, KLEY, KSAH-AM, KSAH-FM, KTFM, KTSA, KZDC and KHHL.
Piper Jaffray & Co. assisted L&L Broadcasting in the transaction and Patrick Communications was the broker for the Border Media Business Trust.
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