Forever Media completes deal for Delmarva Broadcasting

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Delmarva Broadcasting is officially no more.

The company’s website is now directed to Forever Media, the  Pennsylvania company that purchased Delmarva Broadcasting from Steinman Communications).

The deal was first disclosed in February.

AllAccess.com  earlier reported the radio station and digital services company was sold for $18.5 million.

Lancaster, PA-based Steinman’s holdings including newspapers in the Lancaster, PA  as well as a regional farming journal and a downtown Lancaster restaurant.

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The company, like all newspaper owners, has been dealing with a long-running decline in newspaper display and classified advertising. 

Forever Media,   a regional operator of radio stations in the Mid-Atlantic purchased the owner of stations that include:  WDEL, AM and FM; WSTW, a hits station;  WXCY, a country music station and WXDE, a news station in Lewes.

Forever owns radio stations in Easton, MD that have signals that extend into Delaware.

WDEL, which purchased an FM station serving northern Delaware  a few years ago, has one of the largest radio news staffs in the region. 

Delmarva also operates digital marketing services. There was no immediate comment from Delmarva on the possible sale.

The $18.5 million paid for Delmarva reflects the lower selling prices for radio stations, which face stiff competition from online sources. In 2006, Beasley Broadcasting paid $42 million for one Wilmington station,  WJBR-FM.

 

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