The Montana Radio Company, which broadcasts nine stations in the greater Helena area, is transitioning to being 100 percent employee-owned.
Last week, the locally owned broadcast radio company announced it will merge with Iliad Media Group, which has 14 wholly employee-owned stations in Idaho.
(Watch to learn more about the transition happening at Montana Radio Company)
Montana Radio's branding and management structure will remain the same. CEO Kevin Terry says this is a great opportunity for the employees to truly own their work.
“There’s a couple of companies here in the Helena Valley who have done this over the years in the past, and we’ve really kind of taken direction from them,” explained Terry. “To take the culture we’ve created in this company and this community, ensure this continues long after I’m gone.”
Montana employees will become part of an Iliad Media Group Employee Stock Ownership Plan. It is similar to a 401(k) where employees hold the stock and control of the company.
“When you have these owner-operators like us sitting at the top like like ‘Well, where do I go from here?’ And this really secures a path forward for our newer employees to really grow towards and continue to develop their skills and all of us working towards the same direction, holding each other accountable and enjoying each other's successes and failures,” explained Terry.
Iliad Media Group says they have seen success with the employee-owned model at their stations in Boise and Twin Falls, Idaho.
Darrell Calton, President and CEO of Iliad Media Group, expressed his enthusiasm about the merger, stating, "We are excited to welcome the employees of The Montana Radio Company into the Iliad ESOP family. Our shared values of employee ownership and community-focused broadcasting make this merging of radio cultures so promising."
