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News | Clear Channel finds buyer for Vermont stations

By Shay Totten | Vermont Guardian

Posted May 8, 2007

COLCHESTER — A Florida-based company has agreed to purchase several Vermont radio stations licensed to Clear Channel Communications as part of a multiple-station deal that includes stations in 36 markets.

Dean Goodman, the owner of GoodRadio.TV, confirmed the purchase with the Vermont Guardian, but can say little more as the sale must be approved by the Federal Communications Commission (FCC).

Goodman, the former president and chief operating officer of ION Media Networks, is looking to pick up stations around the country as part of a $452 million purchase deal, according to a May 4 filing with the Securities & Exchange Commission.

The FCC decision is not likely to happen until after August, said Tom Barney, Clear Channel’s vice president and market manager in Vermont.

Barney said he does not anticipate any format changes among the existing stations, including Champ 101.3-FM, 96.7-FM “The Zone,” and 92.9-FM, among other stations.

“The stations are doing well, and are profitable and that’s what I think makes them attractive — these formats are working and working well here in Vermont,” said Barney. “You can never say never, but I don’t anticipate any major changes.”

Last week, Clear Channel officials announced they had entered into definitive agreements to sell 362 radio stations in 72 markets for roughly $820 million. The company expects these transactions to close during the second half of 2007.

Clear Channel hopes to sell off 448 radio stations in 88 markets as part of an overall plan to take place the publicly-held company into the hands of private owners. That transfer has yet to occur, and has been delayed several times.

Clear Channel continues to pursue owners for 86 stations in 16 markets, according a statement from the company. None of those stations are in Vermont.

Before its divestiture, Clear Channel owned nearly 1,200 stations around the country and has boasts more than 110 million listeners each week.

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