Cherry Creek Radio Stations Purchased by Townsquare Media
Cherry Creek Media, owner of seven Wenatchee radio stations, has been acquired by radio giant Townsquare Media.
Townsquare announced the $18.75 million purchase on Thursday. The sale includes 35 radio stations in nine markets.
The Wenatchee stations in the agreement are News Radio KPQ; all sports 1340 The falcon; conservative talk radio Talk 106.7; KW3, Kissin Country, the Bridge and Quake Music Stations.
Cherry Creek obtained most of these stations in 2006 when it purchased Fisher Communications. A year later, Cherry Creek bought the family company WestCoast Broadcasting, which included KPQ.
In a press release, Townsquare Media CEO Bill Wilson said he was delighted with the purchase.
“The acquisition includes many local heritage brands with strong competitive positions, significant audience share and highly talented local teams,” Wilson said. “This represents a great opportunity to deploy our Digital First Local Media strategy across a broader footprint, bringing our national scale, strong digital platform and resources to local communities and local businesses in these markets, building on the strong relationships that these local teams have already built with their communities.
Once the agreement is concluded, Townsquare will own more than 350 radio stations in 74 cities.