ST. CLOUD, Minn. — Leighton Radio Holdings is moving to full employee ownership after five company leaders agreed to redeem their shares, leaving the parent company’s employee stock ownership plan as the sole shareholder of the radio licensee.
The move shifts ownership of the broadcasting operation to an ESOP structure rather than an outside buyer or another privately held ownership group.
Employee stock ownership plans give workers a financial stake in the company through a qualified retirement plan. For a local radio operator, the structure can also provide continuity by keeping ownership tied to the people working inside the business.
The transaction is noteworthy at a time when radio ownership continues to consolidate, because Leighton is taking a different path: transferring the economic interest in the company to employees.
Source: Radio & Television Business Report, September 28, 2026.