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.
