Ackerley Group

Last updated
The Ackerley Group
Company type Public
Broadcasting
Industry Media
Founded1975;50 years ago (1975)
Founder Barry Ackerley
DefunctJune 14, 2002;22 years ago (2002-06-14)
FateMerged with Clear Channel Communications
Successor Clear Channel Communications
Headquarters Seattle, Washington
Products Television

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.

Former stations

Stations owned by the Ackerley Group
Media market StateStationPurchasedSoldNotes
Fairbanks Alaska KTVF 19992002
Bakersfield California KGET-TV 19832002
Eureka KVIQ 19982000
Fresno KGPE 20002002 [a]
SalinasMonterey KCBA 19862000 [b]
KION 20002002 [c]
Santa Barbara KCOY-TV 19992002
San FranciscoOakland KFTY 19962002
Colorado SpringsPueblo Colorado KKTV 19831999
Binghamton New York WIVT 19982002
WBGH-CA 20002002
Elmira WETM-TV 20002002 [d]
Rochester WOKR 19992002
Syracuse WIXT-TV 19822002
Utica WUTR 19972002
Watertown WWTI 20002002
EugeneSpringfield Oregon KMTR 19992002
Bellingham Washington KVOS-TV 19852002
  1. Known as KJEO prior to 2000.
  2. Operated by Ackerley from 2000 until 2002.
  3. Operated by Ackerley from 1994 until 2000.
  4. Owned by a third party.

References

  1. FCC approves Clear Channel (now known as iHeartMedia) purchase of Ackerley Group
  2. Virgin, Bill (October 8, 2001). "Ackerley selling out". Seattle Post-Intelligencer . Retrieved March 14, 2023.
  3. "Clear Channel completes merger with Ackerley Group". San Antonio Business Journal . June 14, 2002. Retrieved March 14, 2023.