Lebanon Broadcasting Company announced this afternoon that Forever Media has entered into an asset purchase agreement for WQIC-FM and WLBR-AM.
Forever Media, based in Holidaysburg, operates stations across the Commonwealth, as well in adjacent states, including Froggy 107.7FM in York and The Bus 99.5FM in State College. WLBR and WQIC are the company’s first stations in this area.
“Forever Media is proud to become part of these great stations and have the opportunity to serve the community,” said Lynn Deppen, president of Forever Media, in a press release.
“WLBR/WQIC has been in the Etter family for over 70 years,” said Robert Etter, president of Lebanon Broadcasting Company. “Since my sons have independent careers, I made the decision to sell to Forever Media.”
“Forever Media is an excellent company consisting of community-oriented radio stations. They empower local managers with key decision-making authority and encourage local community interests to be a factor in any decision.”
Lebanon Broadcasting Company has origins dating back to November 13, 1946, the day when WQIC (back then, QUFM) first went on the air. According to a history of the company published by the Chamber of Commerce, the firm was originally owned by Lester Etter, Raymond Stadiem, and Eugene Silverstein, and has remained a family business to this day.
Lebanon Broadcasting Company was represented in the transaction by broker Greg Guy of Patrick Communication.
Terms of the sale were not disclosed.
With the purchase agreement, Forever Media will hold 64 broadcast licenses in 11 markets, according to the release.
This post has been updated with some additional historical information about Lebanon Broadcasting Company.