Waitt Radio will merge with NewRadio Group
By Dave Dreeszen, Journal business editor | Posted: Thursday, November 18, 2004
The growing radio network formed by Sioux City native Norm Waitt Jr. has announced plans Wednesday to merge with a Cedar Rapids, Iowa-based radio group.
The merger of Omaha-based Waitt Radio and NewRadio Group will create a combined network with 89 radio stations in eight states. Waitt Radio chairman Norm Waitt, a former Gateway executive who helped his brother, Ted, get the personal computer business off the ground, will remain chairman of the board of the new radio group. Company officials have not yet decided on a new name for the merged company, Waitt Radio vice chairman Steve Seline said.
The deal is subject to approval from the Federal Communications Commission. Joint operations are expected to begin by Jan. 1.
Waitt Radio owns or operates 64 radio stations, including 24 in Nebraska, 17 in Iowa, 14 in Kansas, three in Minnesota and six in South Dakota, as well as the Waitt Radio Network. In metro Sioux City, Waitt Radio owns Star 102.3 and Y101.3, which share Dakota Dunes offices with Waitt Broadcasting's KMEG-TV. According to Waitt Radio's Web site, its radio stations also include KSOU and KIHK in Sioux Center, Iowa; KUQQ and KUOO in Spirit Lake, Iowa; KAYL and KKIA in Storm Lake, Iowa; KDWD in Spencer, Iowa; KKYA and KYNT in Yankton, S.D.; KNEN in Norfolk, Neb.; and KTCH in Wayne, Neb.
NewRadio Group owns 20 radio stations in Wisconsin and seven in Illinois. NewRadio Group president and chief executive officer Mary Quass will become president and chief executive officer of the new company.
In a separate announcement Wednesday, Waitt Media said Mike Delich, president of Waitt Outdoor will lead a management buyout of the Waitt Outdoor billboard and outdoor advertising company.
The Associated Press contributed to this story.
The merger of Omaha-based Waitt Radio and NewRadio Group will create a combined network with 89 radio stations in eight states. Waitt Radio chairman Norm Waitt, a former Gateway executive who helped his brother, Ted, get the personal computer business off the ground, will remain chairman of the board of the new radio group. Company officials have not yet decided on a new name for the merged company, Waitt Radio vice chairman Steve Seline said.
The deal is subject to approval from the Federal Communications Commission. Joint operations are expected to begin by Jan. 1.
Waitt Radio owns or operates 64 radio stations, including 24 in Nebraska, 17 in Iowa, 14 in Kansas, three in Minnesota and six in South Dakota, as well as the Waitt Radio Network. In metro Sioux City, Waitt Radio owns Star 102.3 and Y101.3, which share Dakota Dunes offices with Waitt Broadcasting's KMEG-TV. According to Waitt Radio's Web site, its radio stations also include KSOU and KIHK in Sioux Center, Iowa; KUQQ and KUOO in Spirit Lake, Iowa; KAYL and KKIA in Storm Lake, Iowa; KDWD in Spencer, Iowa; KKYA and KYNT in Yankton, S.D.; KNEN in Norfolk, Neb.; and KTCH in Wayne, Neb.
NewRadio Group owns 20 radio stations in Wisconsin and seven in Illinois. NewRadio Group president and chief executive officer Mary Quass will become president and chief executive officer of the new company.
In a separate announcement Wednesday, Waitt Media said Mike Delich, president of Waitt Outdoor will lead a management buyout of the Waitt Outdoor billboard and outdoor advertising company.
The Associated Press contributed to this story.
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