Neuhoff Concludes Sale Of Radio Group In Final Deal With Woodward Communications. | Story

After nearly seven decades of radio ownership in the Midwest, the Neuhoff family is exiting the business with the sale of its stations in Bloomington and Springfield, Illinois. Neuhoff first announced in February that it would sell off its clusters, and the latest transaction builds the portfolio of another operator in the region. Buyer Woodward Communications already owns station in Wisconsin.

“This final sale is bittersweet for our family, reflecting both a proud legacy and an emotional farewell,” said Julian Hickman, one of the Neuhoff family trustees. “Our grandfather, Roger Neuhoff, poured his heart into the broadcast industry since the mid-1950s. The stations have been a vital part of our family and community, and while we cherish the incredible journey, it is time to turn the page,” he said in a statement.

In Bloomington, Woodward buys adult hits “Bob FM 97.9” WBBE, “Rock 96.7” WIHN, and hot AC “Now 100.7” WWHX. And in Springfield, it buys country WFMB-FM (104.5), adult hits “96.7 Bob FM” WCVS, hot AC “99.7 The Mix” WXAJ, and sports WFMB (1450). The deal also includes the Springfield, IL-licensed translator W222CG at 92.3 FM that simulcasts WFMB. The deal also includes the “Channel 1450” website in Springfield, which is focused on high school sports.

“We would like to thank the incredible teams of local broadcasters in Springfield and Bloomington. We will forever cherish the memories and the significant impact our stations had on the local communities,” said Makena Neuhoff, a Neuhoff family trustee.

Financial terms of the sale were not immediately available.

Neuhoff Media earlier sold its eight stations in Decatur, IL and Danville, IL to Champaign Multimedia Group for $2 million. And it sold five stations in the Lafayette, IN market to Saga Communications for $5.3 million.

The addition of Neuhoff Media’s Illinois stations takes Woodward Communications into new territory, and nearly doubles the size of its portfolio. It already owns eight stations in the Appleton-Oshkosh and Green Bay, WI markets.

CEO Tom Woodward calls the Neuhoff stations “exceptional” brands” that align with his employee-owned company’s focus on Midwestern media properties that serve niche and lifestyle audiences. “They are a great fit with our culture and dedication to serving local communities. We look forward to collaborating with a very talented and engaged team to continue delivering top-quality programming and service,” he said in the announcement.

At its peak, Neuhoff Media owned 24 stations in five markets across central Illinois and west central Indiana, in addition to multiple digital platforms. The quick sale process for its portfolio came despite an otherwise lackluster deal market.

“I couldn’t be happier to transition these tremendous brands and talented, committed local broadcasters to the Woodward team,” said Neuhoff Media interim CEO Steve Wexler. “They share Neuhoff’s passion for localism and excellence.”

Kalil brokered the deal on behalf of Neuhoff. And Greg Guy of Tideline Partners advised Woodward Communications in the sale.