Ackerley Group

The Ackerley Group was an American media company owned by Barry Ackerley that owned several television stations (mainly in New York, California, as well as one in Fairbanks) that was sold to Clear Channel Communications in 2002. In addition to ownership of television stations across the country, the company also owned and operated several radio stations in the Seattle, Washington, market. The company also owned the NBA Seattle SuperSonics and WNBA Seattle Storm professional basketball teams.

Ackerley announced its sale to Clear Channel Communications on October 8, 2001; the merger was completed on June 14, 2002. At the time of the closure of the transaction, the sale price was reported to be 38 times cashflow (approximately $1.1B USD) the highest ever sale valuation for a North American publicly traded media company in the history of the NYSE. The record setting high price tag was attributed to the overwhelming market monopoly position of the Ackerley Group's Out of Home Media (billboards) marketplace in the Washington, Oregon, Massachusetts and South Florida media markets, all areas where Clear Channel was devoid of inventory. Its chairman was Seattle-based businessman Barry Ackerley. Barry Ackerley and his immediate family owned approximately 82% of the company stock at the time of the sale.