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Taft Broadcasting

Taft Broadcasting Company, also known as Taft Television and Radio Company, Incorporated, was an American headquartered in , , that operated from 1939 until the late 1990s. It originated as Radio Cincinnati, Inc., when the —publishers of the Cincinnati Times-Star newspaper—acquired the radio station in 1939, marking their entry into broadcasting. The company expanded into television with the launch of in 1949 and grew into a major player in the industry, owning radio and TV stations, animation studios, and amusement parks before financial pressures led to its 1987 privatization and subsequent asset sales. At its peak in the , Taft Broadcasting controlled 12 television stations—seven affiliated with major networks and five independents—along with 15 radio stations (eight AM and nine ), generating approximately 60% of its revenue from broadcasting operations. The company diversified into entertainment production, acquiring Productions in 1967, which became a cornerstone of its animation division and produced popular syndicated programming like , , and , accounting for over 60% of Saturday and Sunday morning children's TV content. It also owned Productions for live-action series, Sunn Classics Pictures for family films, and Ruby-Spears Enterprises for additional animated shows such as [The Alvin Show](/page/The_Alvin Show). Beyond media, Taft operated leisure assets including theme parks like in and in , as well as cable properties and a TV program distribution arm. In 1987, amid mounting losses and shareholder pressure, a group led by Cincinnati investor Carl H. Lindner Jr. acquired the company for $1.34 billion in a , renaming it Great American Communications and retaining key family involvement through vice chairman Dudley S. Taft. The debt-laden entity faced ongoing challenges, posting a $54.4 million net loss on $143.4 million in revenue for the nine months ended December 31, 1986, prompting sales of assets like five independent TV stations for $240 million in 1986 and its amusement parks for $167.5 million in 1984. By the early 1990s, further divestitures included Hanna-Barbera Productions to in 1991, with the remaining broadcasting operations reorganized under Citicasters after a 1993 filing, effectively ending the original Taft entity.

History

Early years (1939–1959)

The , prominent in American politics and business since the and descended from U.S. President (1857–1930), ventured into broadcasting through Hulbert Taft Sr. (1877–1959), publisher of the Cincinnati Times-Star newspaper, and his son Hulbert "Hub" Taft Jr. (1916–2001), who played a key role in expanding the family's media interests. Hulbert Sr., a cousin of Senator (son of the president), led the family's initial foray into radio amid the Great Depression's economic challenges. In August 1939, the family formed Radio Cincinnati, Inc., acquiring WKRC-AM, a -affiliated radio station in , , from for $300,000; this purchase marked the Tafts' entry into broadcasting and was spearheaded by young Hub Taft Jr., who convinced his father of radio's potential despite the industry's post-Depression struggles. WKRC, which had launched in as one of the nation's early stations, provided a platform for local programming, including news, music, and community events, helping to stabilize the family's media holdings alongside the Times-Star. Building on radio's success, Taft Broadcasting launched on April 4, 1949, as Cincinnati's second VHF television station (following Broadcasting's on channel 4) and the city's first television affiliate, operating initially on channel 11 from the Times-Star building at 800 . The station's early programming emphasized live local content, including news broadcasts, variety shows, and entertainment tailored to the audience, such as teen dance programs and dramatic sketches that drew on regional talent; it relocated to channel 12 in 1952 due to federal frequency reallocation. The company's first expansion beyond occurred in 1953, when Radio Cincinnati acquired WTVN-AM-TV in —the capital city's second television station, operational since 1949—from broadcaster Edward Lamb for $1.5 million, citing the close economic and cultural ties between the two cities. This move diversified operations while maintaining a focus on CBS and ABC affiliations for WTVN. By 1959, amid steady growth in advertising and audience reach, the reincorporated its broadcasting subsidiaries as the Taft Broadcasting , achieving annual operating revenues exceeding $1 million and reflecting the medium's postwar boom.

Expansion era (1960–1979)

During the 1960s, Taft Broadcasting pursued aggressive expansion through strategic acquisitions of broadcast properties, transitioning from its base to a multi-market presence. In February 1964, the company purchased several stations from Transcontinent Television Corporation in a $26.9 million deal, including WDAF-AM/FM/TV in , and in Scranton-Wilkes-Barre, , which significantly broadened its radio and television footprint across the Midwest and Northeast. These acquisitions allowed Taft to leverage local programming strengths while integrating them into its growing network of affiliates. By 1969, Taft further extended its television holdings by acquiring WIBF-TV (channel 29) in , , renaming it WTAF-TV and transforming it into a key serving the market. A pivotal diversification move occurred in December 1966, when Taft acquired Productions from founders , , and for approximately $12 million, including 60,000 shares of Taft common stock. This purchase integrated the renowned into Taft's operations, enabling synergies between broadcasting and content production. Under Taft's ownership, continued to produce popular children's programming, such as The Banana Splits Adventure Hour (1968–1970), a live-action featuring costumed characters in musical segments that aired on and capitalized on the studio's creative expertise. The acquisition not only enriched Taft's programming library but also positioned the company to distribute animated content across its stations and beyond. In the early 1970s, Taft formalized its entry into television syndication by establishing Rhodes Productions in 1970 as a dedicated distribution arm, focusing on independent programs including animations and other family-oriented series. This division handled the off-network sales and first-run syndication of content, enhancing revenue streams from Taft's production assets without relying solely on network affiliations. Rhodes Productions played a key role in circulating classics and new specials to local markets, contributing to the company's growing entertainment portfolio. Taft also ventured into non-broadcast entertainment with the acquisition of Cincinnati's amusement park in March 1969 for about $6.5 million, marking its initial foray into theme parks. This purchase facilitated the relocation and expansion of the park's attractions, leading to the opening of in , on April 29, 1972, as Taft's flagship theme park development. Featuring Hanna-Barbera-themed areas with characters like and , integrated Taft's animation assets to draw families, blending broadcasting promotions with live entertainment experiences. These expansions drove substantial financial growth, with Taft's quarterly sales reaching $37.9 million by the first quarter of fiscal 1979, reflecting annual revenues that surpassed $100 million amid synergies between broadcasting, animation, and theme park operations.

Peak and challenges (1980–1987)

During the early 1980s, Taft Broadcasting reached the height of its expansion through aggressive acquisitions in the broadcasting sector. In February 1985, the company agreed to purchase five television stations and seven radio stations from Gulf Broadcasting Company for $755 million, significantly bolstering its portfolio with key markets including Tampa-St. Petersburg (WTSP), Phoenix (KTSP), Greensboro/Winston-Salem (WGHP), Dallas (KTXA), and Houston (KTXH). This deal represented one of the largest station acquisitions of the decade, pushing Taft's total television holdings to 12 outlets and enhancing its presence in major U.S. markets. However, to comply with Federal Communications Commission (FCC) ownership limits on the number of stations a single entity could control, Taft was required to divest five radio stations to CBS Inc. later that year. Taft's theme park division also experienced growth during this period, with enhancements to existing properties before the unit's sale in 1983. At in —opened in 1975—the park added the Grizzly wooden roller coaster in 1982, a major attraction that drew from the success of similar rides at sister park and helped boost attendance amid Taft's diversification strategy. Similarly, , straddling the North Carolina-South Carolina border and under Taft ownership since 1975, underwent enhancements including the introduction of Smurf Island in 1984, a themed area featuring characters from the popular Hanna-Barbera-licensed Smurfs franchise to appeal to families and integrate with the company's animation assets. These additions exemplified Taft's focus on cross-promotion between its broadcasting and entertainment divisions, though the theme park group was ultimately sold to for $167.5 million in late 1983 as part of broader financial restructuring. Under Taft's ownership, Productions achieved peak output in the early 1980s, producing a slate of syndicated and network that capitalized on established franchises. The studio revived for in 1980, which ran from 1980 to 1981 on , with reruns through 1983, incorporating additional DC Comics heroes and emphasizing educational themes, which solidified 's dominance in Saturday morning programming. Concurrently, -related content flourished, including (1980–1982), a syndicated anthology featuring Fred and Barney in fresh adventures, and (1979) on , marking a resurgence of the iconic characters amid Taft's push for family-oriented animation. Efforts toward film ventures included development of theatrical specials and crossovers, such as planning for extended animated features, though these largely manifested as television pilots and syndication packages rather than full releases during the decade. Despite these operational peaks, Taft faced mounting financial challenges by the mid-1980s, exacerbated by acquisition-related debt and market pressures. The $755 million Gulf Broadcasting purchase contributed to a total debt load of approximately $680 million by late 1986, prompting the company to sell five independent television stations ( in , in , in , in , and in ) for $240 million to reduce leverage, though the transaction resulted in an estimated $200 million charge against earnings. These moves reflected broader industry consolidation and weakening station values, culminating in a loss of $53.1 million for the period ending March 31, 1987. FCC regulatory scrutiny intensified amid these expansions, as ownership rules capped the number of stations per company and required divestitures to maintain compliance, limiting Taft's growth and adding to operational costs. The culmination of Taft's peak and challenges arrived in 1987 with a led by Cincinnati financier Carl H. Lindner Jr. and his , which held a significant stake in the company. In June 1987, Taft's board approved the $1.43 billion transaction, structured as a offer of up to $157 per share in cash or a combination of cash and securities, ending over four decades of family control by the Taft heirs and marking a pivotal shift amid escalating debt pressures. The deal, approved by shareholders in September 1987 and cleared by the FCC, underscored the era's leveraged finance trends in media but signaled the onset of Taft's reorganization.

Business divisions

Broadcasting operations

Taft Broadcasting operated a diverse portfolio of television and radio stations, expanding to 12 television outlets by the mid-1980s under relaxed FCC ownership limits that permitted up to 12 stations nationwide. Its television holdings included a mix of network affiliates and independents, with flagship WKRC-TV in Cincinnati, Ohio, serving as an ABC affiliate since its launch by the Taft family in 1949 from the former Cincinnati Times-Star building. Other key stations at peak included WBRC in Birmingham, Alabama, an ABC affiliate acquired from Storer Broadcasting in 1957 for $2.3 million and retained until its sale in 1988. WTAF-TV in Philadelphia, Pennsylvania, operated as a leading independent station after Taft's 1969 purchase of the channel (formerly WIBF-TV) for $12 million, focusing on syndicated and local content until its divestiture in 1987. Additional major-market properties encompassed ABC affiliates like WTSP in Tampa-St. Petersburg, Florida, and WGHP in Greensboro-Winston-Salem, North Carolina, acquired in 1985 as part of a larger expansion. The company's radio operations complemented its television assets, with a portfolio that grew to include over a dozen stations by the 1980s through acquisitions like the 1964 purchase of in , from Transcontinent Broadcasting for an undisclosed sum. Flagship properties included WKRC-AM (550 kHz) and WKRC-FM (102.1 MHz) in , where WKRC-AM emphasized programming, including local news and commentary. (610 kHz) in Kansas City maintained a longstanding format under Taft ownership, while WDAF-FM (102.1 MHz, later KYYS) shifted to top 40 in the late , diverging from AM simulcasts to target younger audiences. Formats across the radio group varied by market, incorporating , , and news/talk hybrids to align with local demographics and compete in urban areas. Programming strategies centered on robust local news production at network-affiliated stations like and , which invested in on-site reporting and community-focused segments to build viewer loyalty in competitive markets. Independent stations such as WTAF-TV prioritized syndicated fare, including cartoons from Taft's , to fill daytime and early evening slots with family-oriented content. In select markets like and Kansas City, Taft pursued integrated operations akin to duopolies by cross-promoting content across co-owned AM, FM, and outlets, enhancing efficiency in news sharing and promotional efforts. To comply with FCC ownership caps, particularly the 12-station limit for and radio following the , Taft navigated expansions through targeted divestitures; after agreeing to acquire five TV and seven radio stations from Gulf Broadcasting in 1985 for $755 million, the company sold five overlapping radio properties to Inc. for $105 million to avoid exceeding national limits. The FCC approved the transaction in June 1985, conditional on these sales, allowing Taft to maintain a balanced portfolio while adhering to concentration rules designed to promote diversity in media ownership.

Animation and production

Taft Broadcasting entered the animation industry in late 1966 by acquiring Productions, the pioneering studio founded by animators and , for approximately $12 million. The deal included 60,000 shares of Taft common stock, and founders Hanna and Barbera retained creative control as heads of the studio, overseeing its operations from while integrating it into Taft's growing entertainment portfolio. Under Taft's ownership, expanded its focus on cost-efficient techniques, producing over 100 television series that became staples of Saturday morning programming, including the long-running mystery-solving franchise Scooby-Doo, Where Are You! which debuted in 1969 and spawned numerous sequels. This acquisition marked Taft's strategic shift toward content creation beyond broadcasting, leveraging Hanna-Barbera's expertise to generate syndicated programming for both Taft-owned stations and external networks. During the 1970s and 1980s, Taft Entertainment, the rebranded media division, emphasized syndication through arms like Rhodes Productions and later Worldvision Enterprises, which handled distribution of Hanna-Barbera's animated library alongside live-action offerings. Taft's syndication efforts included producing and distributing children's live-action series such as The New Zoo Revue, an educational program featuring puppetry and music that aired in over 100 markets starting in 1972, and the short-lived sketch comedy No Soap, Radio, which ran on ABC in 1982 with contributions from Taft Entertainment Television. These ventures diversified Taft's output, blending animation with live-action to appeal to preschool and family audiences, while Worldvision managed international sales and reruns that extended the lifespan of properties like The Flintstones and Yogi Bear. Taft also acquired Quinn Martin Productions in 1979, which produced popular live-action crime dramas such as Barnaby Jones and The Streets of San Francisco, contributing to Taft's primetime network programming until its sale in 1988. Taft's film division, Taft Entertainment Pictures, ventured into theatrical releases in the early 1980s, focusing on genre films and distribution deals to complement its TV-centric model. Notable releases included the horror adaptation Cujo in 1983, based on Stephen King's novel, through its subsidiary Sunn Classic Pictures, and science-fiction titles like Hangar 18 (1980), which explored UFO conspiracies and was produced by Sunn Classic following Taft's 1980 acquisition of the company.) The division also facilitated distribution arrangements for family-oriented features. These efforts aimed to capitalize on cross-media synergies, though the film unit folded in 1987 amid Taft's corporate restructuring. Licensing and merchandise from Hanna-Barbera's animated properties became a major revenue driver for Taft in the 1980s, with annual revenues reaching approximately $60 million by the decade's end, largely from licensing deals including toys, apparel, and books tied to characters like and . Taft's merchandising operation licensed over 1,500 products worldwide, including partnerships with for electronic games based on Hanna-Barbera cartoons. Facing intensifying competition from Disney's resurgence in animated features during the 1980s, under Taft shifted toward high-volume Saturday morning cartoons and occasional primetime specials, such as the 1980 adaptation, to maintain dominance in television while avoiding direct theatrical rivalry. This focus on episodic content ensured steady syndication income but highlighted Taft's emphasis on accessible, formulaic storytelling over Disney's cinematic ambitions. Ownership of lasted until 1991, when Taft—by then Great American Broadcasting—sold the studio to for $320 million, including its production facilities and library.

Theme parks and entertainment

Taft Broadcasting diversified into the theme park industry in the early 1970s as a means to leverage its media assets and expand beyond broadcasting, beginning with the purchase of the historic near in 1969, which inspired further developments. The company spearheaded the development of , breaking ground in June 1970 and opening the 364-acre park in , on April 29, 1972, at a cost exceeding $25 million, featuring themed areas, thrill rides, and family attractions designed to rival emerging competitors. In 1975, Taft opened in , a 400-acre park modeled after Kings Island but with unique elements like a 1/3-scale [Eiffel Tower](/page/Eiffel Tower) replica and an international theme, constructed through a with the Company to share costs and expertise. Taft also acquired a majority interest in , a park straddling the North and border that debuted in 1973; following financial struggles of its original owners, Taft, via its Family Leisure Centers partnership with Kroger, purchased the park after the 1974 season and assumed full operational control by 1975. Additionally, Taft held a partial 20% stake in , which opened in 1981 near as Canada's first major theme park, developed in collaboration with Great-West Life Assurance Company to tap into international markets. To enhance visitor appeal and cross-promote its properties, Taft integrated themes from its animation subsidiary across its parks, creating dedicated areas like the Happy Land of Hanna-Barbera at in 1975, which included six new rides such as the wooden roller coaster, character statues, and daily meet-and-greets with figures like and . Similar Hanna-Barbera lands appeared at and , featuring cartoon-inspired attractions and parades; for instance, Kings Dominion's Smurf Mountain ride and play area debuted in the early 1980s, capitalizing on the popularity of the Hanna-Barbera-produced Smurfs cartoon, while character interactions became a staple for family entertainment. These integrations not only boosted attendance but also reinforced Taft's brand synergy between media and leisure divisions. Under the KECO Entertainment division, Taft managed its parks with a focus on seasonal expansions amid the theme park boom, driven by rising family and regional competition. Notable developments included the 1979 debut of at , a record-breaking spanning over 7,000 feet—the world's longest at the time—and subsequent upgrades like track re-banking and enclosed tunnels to improve ride experience and safety. At , a $1 million expansion in 1977 added rides like Bamm Bamm's Boat Float and an infant care center, while saw similar investments in thrill rides and theming to attract over 2 million annual visitors across the portfolio by the mid-. Admissions generated substantial revenue, contributing significantly to Taft's non-broadcast income, with the division's overall value reaching $167.5 million by 1984. Despite successes, Taft's parks faced operational challenges in the 1980s, including intense competition from Disney's expanding resorts like (opened 1982), which drew national audiences with immersive storytelling and higher production values, pressuring regional parks to innovate. Safety concerns also arose industry-wide, with incidents at wooden coasters like prompting ongoing maintenance investments, though Taft emphasized rigorous inspections to maintain guest trust. These pressures, combined with Taft's broader financial restructuring amid media industry shifts, led to preparations for divesting the entertainment division, culminating in its $167.5 million sale to the newly formed —led by Taft executives—in 1984.

Dissolution and legacy

Restructuring and asset sales (1987–1999)

In 1987, Taft Broadcasting was acquired in a by a partnership led by Cincinnati financier through his American Financial Corp., in a deal valued at approximately $1.3 billion, prompting an initial refinancing of the company's debt to support the transaction. The acquisition resulted in the renaming of Taft Broadcasting to Great American Broadcasting Company (later Great American Communications Co.), marking the beginning of a period of financial strain due to the heavy debt load from the . To alleviate mounting financial pressures, Great American began divesting non-core assets in the early 1990s. In October 1991, the company sold its Productions animation studio and related library to for about $320 million, allowing Turner to leverage the extensive cartoon catalog for its emerging cable networks. This sale represented a significant step in streamlining operations amid ongoing debt servicing challenges. By late 1993, the cumulative effects of the 1987 debt, estimated at over $1.3 billion, led Great American to file for Chapter 11 bankruptcy protection on November 5 as a prepackaged reorganization plan to restructure its obligations. Emerging from bankruptcy in 1995 as Citicasters Inc., the restructured entity focused on its radio holdings and sold off its television stations to reduce liabilities; notable transactions included the 1994 divestiture of several outlets, such as in Kansas City and in to as part of Fox affiliation realignments. In February 1996, Citicasters was acquired by Jacor Communications Inc. in a $770 million stock and cash deal, integrating its radio assets into Jacor's growing portfolio and further consolidating the company's broadcasting operations under new ownership. This transaction was completed amid regulatory scrutiny over but ultimately approved by the of Justice. The final chapter of independent operations ended in 1999 when Jacor merged with Communications in a $4.4 billion all-stock transaction (announced in 1998 and completed in May 1999), absorbing Citicasters' remaining radio stations into the larger Clear Channel network and dissolving the entity's standalone structure.

Successor companies and impact

Following the dissolution of Taft Broadcasting's remnants as Citicasters in 1999, its radio assets were integrated into larger media entities, ultimately under (formerly Communications). Citicasters' portfolio, including flagship station WKRC-AM in , was first acquired by Jacor Communications in a $770 million deal in 1996, marking one of the earliest major consolidations post-Telecommunications Act. Jacor, in turn, was purchased by in 1999 for $4.4 billion (announced in 1998 and completed in May 1999), expanding the latter's reach to over 1,200 stations nationwide. As of November 2025, continues to operate WKRC as a outlet, preserving Taft's legacy in regional markets like the Midwest, where it maintains a strong local presence with syndicated programming and community-focused content. The Hanna-Barbera animation library, a cornerstone of Taft's entertainment holdings, followed a distinct path after its 1991 sale to Turner Broadcasting System for approximately $320 million, which included production rights and distribution agreements. This acquisition provided Turner with a vast catalog of over 2,000 half-hour episodes to fuel the launch of Cartoon Network in 1992. In 1996, Turner's merger with Time Warner for $7.5 billion brought the library under Warner Bros.' umbrella, where it has since been managed through various restructurings, including the 2022 formation of Warner Bros. Discovery. The collection, encompassing iconic series like The Flintstones and Scooby-Doo, is now syndicated globally via Warner Bros. Domestic Television Distribution, generating ongoing revenue through streaming, merchandise, and reboots. Taft's theme park division, exemplified by in , was sold by Taft in 1984 to (KECO) for $167.5 million. KECO then sold the properties, including and , to Paramount Communications in 1993 for approximately $400 million. Under from 1993 to 2006, the property saw expansions like the addition of (now ) and Nickelodeon-themed areas, drawing millions annually. In 2006, Entertainment acquired the entire chain, including , , and , for $1.24 billion, integrating them into its portfolio of 13 amusement parks. Following 's merger with in July 2024, is now owned by Six Flags Entertainment Corporation as of November 2025, hosting over 3 million visitors yearly and featuring legacy rides like , which underscore Taft's original vision for family entertainment. Taft Broadcasting's diversified model—spanning radio, television, production, and theme parks—pioneered the multi-platform structure in the mid-20th century, influencing subsequent groups like , which emulates Taft's strategy of acquiring local stations for regional dominance. By the , Taft controlled 12 TV and numerous radio outlets across the U.S., setting precedents for cross-media synergies that later conglomerates adopted to maximize content distribution and . The cultural legacy of Taft endures through Hanna-Barbera's enduring franchises, which revolutionized television animation by introducing limited animation techniques that enabled cost-effective, high-volume production for prime-time and Saturday morning slots. Shows like The Jetsons and Yogi Bear became cultural touchstones, influencing generations with themes of family, adventure, and humor, and spawning merchandise empires valued in billions. Taft's role in regional broadcasting also left a lasting mark, as its stations like WKRC fostered community ties in markets such as Cincinnati and Louisville, contributing to the model of localized content that sustains audience loyalty amid national consolidation.

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