Hubbard financing for radio station purchases to include bank debt

By Sara Rosenberg

New York, Jan. 26 - Hubbard Broadcasting Inc.'s financing commitment for its acquisition of 17 radio stations from Bonneville International Corp. includes plans for a new credit facility, according to a market source.

Morgan Stanley and Goldman Sachs are the lead banks on the deal, with Morgan Stanley the left lead.

The acquisition, which is valued at about $505 million, 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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