Northern Lights Broadcasting Acquires KTTB FM - B96

Northern Lights Broadcasting Acquires KTTB FM - B96

Format to remain the same, staff retained by new local company

MINNEAPOLIS, June 13 /PRNewswire/ -- The ownership of KTTB FM - B96 will shift from a national holding company to a local radio broadcast company, under a management-led buyout announced today.

Northern Lights Broadcasting, LLC, a new local radio broadcast company headed by long-time Twin Cities radio broadcaster Steve Woodbury, has signed a definitive agreement to acquire KTTB FM from Radio One, Inc., a national radio broadcasting company based in Washington, D.C. Northern Lights is a subsidiary of a Pohlad family company. Closing is contingent on FCC approval.

"In this era of consolidation, I'm delighted that we've returned this radio station to local control," Woodbury said. Currently KTTB's vice president and general manager, Woodbury will serve as president and chief executive officer of Northern Lights.

KTTB is the only rhythmic contemporary hit radio (CHR) station in the Twin Cities. No changes are planned under the new Northern Lights ownership structure. The current KTTB staff, including its on-air personalities, will be retained and the format of the station will not change.

"Almost all of our station management people, including myself, and our investors grew up here," Woodbury said. "We're local people, and we're committed to serving the Twin Cities community exceptionally well."

Woodbury has been a Twin Cities radio fixture for 25 years. His radio management career in the Twin Cities began with WLTE in the early 80s. He also has held management positions at WCCO AM, WAYL AM/FM (now 93X), KFAN/KFXN, and in 2000, he built KTTB FM - B96. Woodbury also is a second-generation radio broadcaster; his father, Bob, was a 44-year veteran with WCCO AM.

"I've grown up in the radio business, and I believe local broadcast ownership is important," Woodbury said.

Based in Edina, KTTB FM - B96 went on the air in 2000 and has been a rhythmic CHR format since its inception.

Media Contact:
Mary Lilja
Lilja Inc. for Northern Lights Broadcasting
952.893.7140
mcl@lilja.com

First Call Analyst:
FCMN Contact:

Source: Northern Lights Broadcasting, LLC

CONTACT: Mary Lilja of Lilja Inc., +1-952-893-7140, mcl@lilja.com, for
Northern Lights Broadcasting

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