Stephen King's Maine Radio Station WKIT Saved by Last-Minute Buyer Before Shutdown
Stephen King's radio station WKIT 100.3 FM has found a last-minute buyer just days before its planned shutdown, while sister stations WZLO and WZON are still set to cease operations at the end of 2024.
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Bangor businessman Jeff Solari and his partner Greg Hawes have acquired WKIT, the most popular of King's three stations. Solari, who heads Rock Lobster Media and has extensive media experience, will ensure the station continues broadcasting as usual.
The sale comes after King, 77, announced plans to shut down his radio stations earlier in December, citing a need to organize his business affairs. Station manager Ken Wood had previously revealed the stations had accumulated significant losses over the years, which King had personally covered.
The financial terms of the purchase remain undisclosed. While WKIT has secured its future, sister stations WZLO 620 AM and WZON 103.1 FM are still expected to cease operations as planned.
This development occurs amid broader industry challenges, with major players like iHeartMedia and Cumulus Media recently implementing layoffs. SiriusXM is also undergoing strategic changes following disappointing Q3 results and declining stock value in early 2024.
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