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05/26/2009

Radio Mogul Returning To Media Industry

Larry Wilson, the founder of one of the nation�s largest radio businesses � Citadel Communications Corp. � is preparing to build his next media empire in Portland.

He sold his last startup, Citadel, for $2 billion in 2001. He owned more than 5% of Citadel at the time of its sale. Wilson then left the industry to care for his ailing wife who passed away in February, 2008, following a 13-year battle with cancer.

Recently, on May 12, he agreed to spend $11 million to buy two Paul Allen-owned Portland radio stations. Now 64, Wilson has raised $60 million to buy his way back into radio. Portland-based Endeavour Capital put up 80% of the money; Wilson provided the balance for his new Alpha Broadcasting company in Portland.



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