Equity Media to Acquire WBOK 1230 AM
NEW ORLEANS - Equity Media, the team comprised of New Orleans native and actor/producer Wendell Pierce, Spears Group president/CEO Cleveland Spears, III, Henry Consulting managing partner Troy Henry and Thomas Media Services founder Jeff Thomas, has announced it will be moving forward with the acquisition of WBOK 1230 AM, under a newly formed company, Equity Media. The group has executed a purchase and sale agreement to assume ownership from Los Angeles based-Bakewell Media and is expected to close on the sale in Q2, 2019.
In 2009 Danny Bakewell, Sr. and his son Danny, Jr. established Louisiana's only African American news talk platform. WBOK broadcasts informative programming targeted to African Americans and has established itself as a top platform where all New Orleanians can receive their news and share their views.
The acquisition is partially financed by partners of Equity Media and debt-financed through Liberty Bank, making the new ownership team 100 percent black-owned and funded.
"We are extremely excited to be a part of advancing the legacy of The Bakewell Family and WBOK Radio as an indispensable source of news for the city of New Orleans, especially the African American community," said a spokesperson from Equity Media. "The opportunity to elevate the station by ensuring that it provides a well-rounded view of major issues that affect the day-to-day lives of African Americans is something that we all feel immensely passionate about. The future of WBOK 1230 AM has never been brighter, and we look forward to this new and exciting chapter."
Upon finalization of the sale and FCC approval, the diverse and talented group of African American entrepreneurs will complete a full assessment of the organization, programming, and brand identity, with plans for a re-launch of the station in mid-summer.
"WBOK has always been the voice of the African American perspective in New Orleans, and there is no one more equipped to that mission than this team," said Danny J. Bakewell, Sr., Chairman of Bakewell Media. "Each of these talented individuals brings such a wide range of experience and expertise, and we look forward to all the great things to come for WBOK Radio."