Three Eagles Buys Four StationsFrom Clear Channel Lincoln

Employees of Clear Channel Communications in Lincoln knew their radio station group was up for sale. Now they know who is purchasing them and what changes they can expect.

Three Eagles Communications announced Monday that it will purchase four Clear Channel radio stations in Lincoln: KLMY (106.3 FM), KTGL (92.9 FM), KIBZ (104.1 FM) and KZKX (96.9 FM).

The stations went up for sale Nov. 16 when Clear Channel announced its plans to sell more than 400 of its 1,150 radio stations after being acquired by an investor group led by private-equity firms Thomas H. Lee Partners and Bain Capital Partners.

Three Eagles Communications, which is based in Lincoln, will be required to sell off at least two of its Lincoln radio stations. Federal Communications Commission regulations prohibit a company from owning more than six stations in a market the size of Lincoln.

With Monday's purchase, Three Eagles owns two AM stations and six FM stations in Lincoln. The other stations are: KFRX (102.7 FM), KRKR (95.1 FM), KFOR (1240 AM) and KLMS (1480 AM).

Clear Channel Lincoln Vice President Julie Gade told the Lincoln Journal Star that the news her stations are being purchased by a local owner is a relief.

"(Three Eagles) will add four incredibly good radio stations to the mix," she said. "What they have already is phenomenal. They now will have the ability to capitalize in the market."

The article quotes Three Eagles Owner Rolland Johnson as saying no format or personnel changes are expected at the four stations new to his group. Eventually, they will move those stations' broadcast headquarters to the Three Eagles’ building at 3800 Cornhusker Highway in Lincoln.