The Ackerley Group was an American media company founded by businessman Barry Ackerley that owned and operated several radio stations in Seattle, Washington, as well as television stations across the United States (primarily in New York and California, as well as one in Fairbanks, Alaska). The company also owned the NBA Seattle SuperSonics and WNBA Seattle Storm professional basketball teams. The Ackerley Group was sold to Clear Channel CommunicationsFCC approves Clear Channel (now known as iHeartMedia) purchase of Ackerley Group (now iHeartMedia) in 2002.
Ackerley announced its sale to Clear Channel Communications on October 8, 2001; the merger was completed on June 14, 2002. At the time of the closure of the transaction, the sale price was reported to be 38 times cashflow (approximately $1.1B USD), the highest ever sale valuation for a North American publicly traded media company in the history of the NYSE. The record setting high price tag was attributed to the overwhelming market monopoly position of the Ackerley Group's Out of Home Media (billboards) marketplace in the Washington, Oregon, Massachusetts and South Florida media markets- all areas where Clear Channel was devoid of inventory. Barry Ackerley and his immediate family owned approximately 82% of the company stock at the time of the sale.
Former stations Stations are arranged in alphabetical order by state and city of license.
+ Stations owned by the Ackerley Group Media market State Station Purchased Sold Notes Fairbanks Alaska KTVF 1999 2002 Bakersfield California KGET-TV 1983 2002 Eureka KVIQ 1998 2000 Fresno KGPE 2000 2002 Salinas–Monterey KCBA 1986 2000 KION 2000 2002 Santa Barbara KCOY-TV 1999 2002 San Francisco–Oakland KFTY 1996 2002 Colorado Springs–Pueblo Colorado KKTV 1983 1999 Binghamton New York WIVT 1998 2002 WBGH-CA 2000 2002 Elmira WETM-TV 2000 2002 Rochester WOKR 1999 2002 Syracuse WIXT-TV 1982 2002 Utica WUTR 1997 2002 Watertown WWTI 2000 2002 Eugene–Springfield Oregon KMTR 1999 2002 Bellingham Washington KVOS-TV 1985 2002
References