‘Newseum WTOP Microphone’
courtesy of ‘Mr. T in DC’
The famous “glass-enclosed nerve center” of WTOP, and its partner WFED, were sold by Bonneville broadcasting yesterday to St. Paul-based Hubbard Broadcasting as part of a 17-station deal worth $505M, according first to DCRTV and then the Business Journal’s Jeff Clabaugh.
The expansion by Hubbard is significant, as the group owns just four radio and twelve TV outlets, which means this effectively doubled the size of their footprint, station-wise, and given that they’re primarily in secondary and tertiary markets like Albuquerque, New Mexico and Duluth, Minnesota, the purchase of St. Louis, Cincinnati, DC and Chicago radio outlets is a significant move for the group.