Pamal To Acquire Galaxy Media
• Albany, NY-based Pamal Broadcasting announced it has agreed to acquire Galaxy Media, which owns / operates 10 radio stations in Syracuse and Utica, New York, for an undisclosed amount, pending FCC approval.
Effective October 1, Pamal Broadcasting will assume operational responsibilities under an immediate Local Marketing Agreement (LMA), enabling Pamal to provide day-to-day management and programming oversight while the acquisition proceeds through the approval process.
“We are very excited to add Galaxy’s team and stations to our company,” said Jim Morrell, Pres./CEO of Pamal Broadcasting. “We have had a few meetings with the Galaxy employees, and we are excited to work with them, learn from them, and continue in the strong tradition of supporting our communities, entertaining our listeners and helping our advertising partners grow their businesses. With this addition, Pamal stations cover an enormous geography ranging from New York City, Long Island and Northern New Jersey, through the entire Hudson Valley to the Capital District, up to Lake George and now out through Utica and Syracuse. It truly is a great opportunity for us all.”
Galaxy Founder & CEO, Ed Levine remarked, “I have been fortunate to live out a lifelong dream of mine for the past 36 years. Time and life march on! While I will miss Galaxy and Syracuse/Utica, I could not be happier to hand things off to Pamal Broadcasting. They are a committed group of upstate broadcasters who share much of the same DNA as Galaxy. Congratulations to Jim Morrell and his team, and best wishes for a great future!”
Additional details regarding the transaction will be announced as appropriate following regulatory review.
