Neuhoff Exiting The Broadcast Industry
• Neuhoff Family Limited Partnership, the parent company of Neuhoff Media-Decatur, LLC and Neuhoff Media-Danville, LLC has announced it has entered into an agreement to sell the assets of WSOY-AM/WSOY-FM, WCZQ-FM, WDZ-AM, WDZQ-FM and NowDecatur.com in Decatur, IL and WDAN-AM, WDNL-FM, WRHK-FMand VermilionCountyFirst.com in Danville, IL to Champaign Multimedia Group.
This transaction is part of an overall strategic decision on behalf of the Neuhoff family to exit the broadcast industry after nearly 70 years, according to Julian Hickman and Makena Neuhoff, trustees of the Neuhoff family.
Hickman commented, “We are proud of what broadcast ownership has meant to our family, our employees, and the markets we serve. Our grandfather, Roger Neuhoff, began his ownership in the business during the mid-1950s. He loved the broadcast industry and was proud of the way our radio and television stations served their local communities.” Makena Neuhoff said, “We would like to thank the incredible teams of local broadcasters in Decatur and Danville. We are proud of their daily dedication to their listeners, clients, and communities.”
Neuhoff Media President Mike Hulvey remarked, “We are pleased to see the iconic local media brands of Neuhoff Media’s Danville and Decatur markets all brought together through this historic transaction with the Champaign Multimedia Group. The next chapter for the Danville and Decatur radio stations and digital platforms will create something very special for each community.”
The timing of this announcement aligns with the formal filing of an ownership change application with the FCC. The company expects to make additional announcements regarding future agreements as the Neuhoff divestiture process moves forward.
Neuhoff Family Limited Partnership and its local companies own and operate 24 broadcast signals, along with multiple digital platforms, in five radio markets across central Illinois and west central Indiana. Kalil & Co., Inc. acted as the exclusive broker for this transaction.
