Andrulonis Media: Difference between revisions

The company began operations in Pennsylvania as "Colonial Media Group." It first invested in the Twin Tiers radio market in 2008. The company strategy was to take rimshot signals in farther-flung boroughs such as [[Kane, Pennsylvania|Kane]] and [[Coudersport, Pennsylvania|Coudersport]] and move them to towns adjacent to the area's largest city in [[Olean, New York|Olean]], hoping to gain market share from the two main broadcasters in the area, [[Backyard Broadcasting]] (then owners of [[WPIG]], the dominant station in the region, now owned by Seven Mountains Media) and [[Pembrook Pines Media Group]] (whose stations are now owned by [[Vision Communications (New York)|Waypoint Media]]). From 2011 to 2013, Colonial operated a local television station in Olean.<ref>Fybush, Scott (May 6, 2013). [http://www.fybush.com/nerw-20130506/ Local TV newscasts shuttered]. ''NorthEast Radio Watch''. Retrieved May 6, 2013.</ref> In 2018, Andrulonis announced the sale of the last of those stations to Rick Freeman, a [[Scranton, Pennsylvania|Scranton]]-based businessman previously in the newspaper industry. Andrulonis and agreed to sell the stations to Freeman in a transaction consisting of 10% cash (to consummate a [[brokered programming|time-brokerage]] agreement until the sale consummates) and 90% [[cryptocurrency]], the first time cryptocurrency has ever been used in a broadcast license transaction; he stated that "it was time" for him to give up the stations to someone else more interested in building them.<ref>[http://www.bradfordera.com/business/colonial-media-group-selling-local-stations/article_201876c0-4769-11e8-aef5-63f40632a734.html Colonial Media Group selling local stations]. ''The Bradford Era'' (April 24, 2018). Retrieved April 25, 2018.</ref><ref>Taylor, Tom (April 25, 2018). [https://mailchi.mp/tomtaylornow/tom-taylor-now-123853?e=53f8173575 More crypto-currency station sales ahead?]. Retrieved April 25, 2018.</ref> The terms of the sale required Freeman to cover any shortfall in cash if the cryptocurrency lost value, and he was unable to do so after cryptocurrencies entered a [[bear market]] in 2018. Colonial then sold one of the stations to [[Family Life Network]], a regional Christian broadcaster, in December,<ref>[http://www.insideradio.com/free/deal-digest-scripps-completes-broadcast-radio-exit/article_b8fd6168-feaf-b11e8-945d-3f7e6e16951.html Scripps completes broadcast radio exit]</ref> and another to upstart broadcaster Bob Lowe in November 2019,<ref>{{Cite web|url=https://radioinsight.com/headlines/181775/station-sales-week-of-11-15/|title = Station Sales Week of 11/15}}</ref> finally selling the last to Seven Mountains (who a few months later spun it off to Family Life) in October 2020.<ref>{{Cite web|url=https://radioinsight.com/headlines/200588/station-sales-week-of-10-30-seven-mountains-expands-in-olean/|title = Station Sales Week of 10/30: Seven Mountains Expands in Olean}}</ref>

Colonial also previously invested in stations in [[Williamsport, Pennsylvania]]. Andrulonis's partners in the Williamsport stations bought him out in 2010, continuing to identify as "Colonial Radio Group of Williamsport;" eventually coming under the ownership of Todd Bartley in 2013. Bartley went bankrupt and, in 2020, sold Colonial Radio Group of Williamsport to Seven Mountains Media, a regional broadcaster.<ref>{{Cite web|url=https://radioinsight.com/headlines/186030/station-sales-week-of-4-10-seven-mountains-expanding-to-williamsport/|title=Station Sales Week of 4/10: Seven Mountains Expanding to Williamsport}}</ref>

Andrulonis also began divesting his Carolinas cluster in 2021, selling WYAY and WMIR-FM to Maryland Media One<ref>{{Cite web|url=https://radioinsight.com/headlines/206936/station-sales-week-of-4-9/|title = Station Sales Week of 4/9}}</ref> and another station to GT Radio.<ref>{{Cite web|url=https://radioinsight.com/headlines/200163/station-sales-week-of-10-23-iheartmedia-consolidates-license-holding-companies/|title = Station Sales Week of 10/23: IHeartMedia Consolidates License Holding Companies}}</ref> With the sale, all of Andrulonis's remaining radio licenses are [[AM broadcasting|AM radio]] signals.

[[WPGI]], FM 93.7, [[Georgetown, South Carolina]] (sold to Joseph Rice and Todd Fowler)<ref>{{Cite web|url=https://radioinsight.com/headlines/200163/station-sales-week-of-10-23-iheartmedia-consolidates-license-holding-companies/|title = Station Sales Week of 10/23: IHeartMedia Consolidates License Holding Companies}}</ref>