Woodward Communications has quickly built up its footprint in Illinois with a pair of deals with Neuhoff Media and Mid-West Family Broadcasting. With one deal completed, and the other still pending, Woodward is now moving to spin off two FMs in part to comply with ownership limits. The buyer is religious broadcaster Educational Media Foundation.
EMF will pay $400,000 — or $200,000 for each of the FMs. They include adult hits “96.7 Bob FM” WCVS in the Springfield, Illinois, market and “Rock 96.7” WIHN in the Bloomington, Illinois, market. Woodward bought the two stations, along with five others, for $4.3 million as it snapped up the last radio cluster owned by Neuhoff Media. Woodward followed that up with a still-pending deal to buy four more stations from Mid-West Family Broadcasting for an undisclosed amount.
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