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Friday, August 28, 2009

NorthStar buys a majority stake in Heartland Communications' 10-station group

The deal allows Jim Coursolle’s NorthStar Properties, LLC to purchase a two-thirds interest in Heartland Communications Group, pending FCC approval, for $700,000. NorthStar will take over eight Wisconsin stations, including WATW-AM (1400), WBSZ-FM (93.3), WJJH-FM (96.7) & WNXR-FM (107.3) in Ashland; WERL-AM (950) & WRJO-FM (94.5) in Eagle River; WNBI-AM (980) & WCQM-FM (98.3) in Park Falls; along with Iron River, Michigan’s WIKB-AM/FM (1230/99.1). Coursolle currently owns a stake in Armada Media, which owns 27 stations in seven Midwestern states, and operates another eight stations in Kansas through a local marketing agreement. Read the FCC filing on the proposed sale here.

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