American media company (1975–2002)
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 Communications[1] (now iHeartMedia) in 2002.
Ackerley announced its sale to Clear Channel Communications on October 8, 2001;[2] the merger was completed on June 14, 2002.[3] 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.
Station list (incomplete)
Stations are arranged in alphabetical order by state and city of license.
Notes:
- 1 Divested following purchase of KION, Ackerley continued to operate station after divestiture until the merger with Clear Channel in 2002.
- 2 Operated by Ackerley from 1994 until purchased outright by Ackerley in 2000.
- 3 Ackerley never owned this station directly but did operate it through a time brokerage agreement from 2000 until the merger with Clear Channel in 2002.
Notes
- ^ FCC approves Clear Channel (now known as iHeartMedia) purchase of Ackerley Group
- ^ Virgin, Bill (October 8, 2001). "Ackerley selling out". Seattle Post-Intelligencer. Retrieved March 14, 2023.
- ^ "Clear Channel completes merger with Ackerley Group". San Antonio Business Journal. June 14, 2002. Retrieved March 14, 2023.
- ^ Suspension of Operations and Silent Authority of a DTV Station Application. Licensing and Management System, Federal Communications Commission, Retrieved 23 September 2018
- ^ Station Search Details - KJRW CDBS Public Access, Federal Communications Commission, Retrieved 16 September 2018.
- ^ Kreisman, Barbara A. "Re: Request for Reinstatement and Extension of License Under Section 312(g)" (PDF). Licensing and Management System. Federal Communications Commission. Retrieved July 28, 2020.
- ^ Redwood Television Closes On KIEM Buy, TVNewsCheck.com, 4 December 2017, Retrieved 16 September 2018
