(Omaha, Ne.)– Waitt Radio of Omaha, Nebraska, who owns KUOO FM and sister stations KUQQ and KDWD Hot 100 in Spencer, announced Wednesday it’s merging with NewRadio Group, LLC which also owns radio stations in the upper midwest and is headquartered in Cedar Rapids.
Waitt Radio, Incorporated owns 15 radio stations in Iowa; 14 in Kansas; three in Minnesota; 24 in Nebraska and six in South Dakota…along with the Waitt Radio Network. NewRadio Group LLC is made up of 20 radio stations in Wisconsin and seven in Illinois.
Primary shareholders for the new company will be Waitt Media and Alta Communications, a private equity fund specializing in media investments based in Boston.
It’s anticipated a local marketing agreement will begin January 1st, 2005.
The merger is pending approval of the Federal Communications Commission.
Norman Waitt, Junior will serve as Chairman of the Board and Mary Quass of NRG will be President and CEO of the merged companies.
In addition to KUOO, KUQQ and KDWD, Waitt also owns KAYL AM and FM and KKIA FM in Storm Lake; KLGA AM and FM in Algona; and KSOU AM and KIHK FM in Sioux Center.
Changes are also in store for Waitt Media’s outdoor division. It was also announced Wednesday that Mike Delich, President of Waitt Outdoor, will lead a management buyout of that company. Rod Kestel will continue as Vice President and General Manager and Darin Plautz will continue as Vice President in charge of leasing new locations for the company.
