The verbose author is closing the three Maine radio stations he co-owns with his wife Tabitha at the end of the year, citing his age and the rising costs of operating stations that have never been profitable. The news reflects the grim reality facing the format and media at large, indicating even the buzziest backers can’t keep a medium alive on personal wealth alone.
“While radio across the country has been overtaken by giant corporate broadcasting groups, I’ve loved being a local, independent owner all these years,” King said in a statement on Monday, according to. “I’ve loved the people who’ve gone to these stations every day and entertained folks, kept the equipment running, and given local advertisers a way to connect with their customers. Tabby and I are proud to have been a part of that for more than four decades.
A spry, mid-30s King purchased the stations in 1983, operating them through almost 40 years of turmoil in both radio and music. The trio of stations are some of the few remaining independent stations in Maine in an era where companies like iHeartMedia and Audacy compete for market shares. The stations have “consistently lost money,” the Zone Corporation said in the statement, and the Kings have repeatedly covered the losses to keep them afloat. But King, 77, said he had to “get his business affairs in better order,” prompting the closure.It is unclear if the stations will seek new owners or just completely shutter. Regardless, general manager Ken Wood thanked the Kings for their generosity and dedication to the medium.
“Independent, locally owned radio stations used to be the norm,” Wood said. “There’re only a few left in Maine, and we’re lucky we had these three as long as we did.”