Hubbard Broadcasting gets debt commitment for radio station purchases

By Sara Rosenberg

New York, Jan. 19 - Hubbard Broadcasting Inc. plans on getting new debt financing to help fund its acquisition of 17 radio stations from Bonneville International Corp. for about $505 million, according to a news release.

Morgan Stanley and Goldman Sachs are the lead banks on the debt.

The acquisition is expected to be completed upon FCC approval and other customary conditions.

Hubbard Broadcasting is a St. Paul, Minn.-based television and radio broadcasting company.

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