What Capitol Broadcasting Company does

Capitol Broadcasting Company is a privately held, family-controlled (fourth-generation Goodmon leadership) diversified communications company headquartered in Raleigh, North Carolina, operating since 1937. Its core media operations span four owned-and-operated television stations (WRAL-TV/NBC, WRAZ-TV/FOX 50, WILM-TV, WNGT-TV), more than ten radio stations including 99.9 The Fan (ESPN Radio), MIX 101.5, WRAL News+, and the Sunrise Broadcasting cluster in Wilmington, and digital platforms (WRAL.com, the WRAL app, WRAL Digital Solutions marketing agency). Distribution extends to OTT, MVPD, VOD, mobile applications, and smart speaker streaming. Distinctive technical capability includes WRAL-TV's AR/VR news-graphics production pipeline, used to visualize concepts such as naloxone overdose reversal and weather phenomena through mixed-reality compositing.

Beyond media, the company owns and operates three professional sports franchises (Durham Bulls Triple-A baseball, Holly Springs Salamanders and Greenville Yard Gnomes in the Coastal Plain League) plus a recently added Five County Stadium management agreement in Zebulon. CBC Real Estate has developed over 3 million square feet of mixed-use, multifamily, and retail space since 2001, including American Tobacco Campus in Durham, Rocky Mount Mills, MoJud Lofts, and The Thread in Rock Hill, SC. American Underground, a coworking and startup hub, supports 275+ companies across three Durham locations and recently expanded to a 40,000-square-foot flagship at American Tobacco Campus.

Revenue is generated across six streams: television and radio advertising (sold direct with Net 30 terms), professional sports ticketing/concessions/venue partnerships, real estate leasing and development fees, coworking subscriptions, digital marketing agency services, and stadium management. The customer base is highly diversified, spanning local/regional advertisers, Triangle-area sports and news audiences, startup tenants, and commercial property lessees; notable strategic relationships include the Duke University Athletics radio network extension across approximately 50 Carolinas affiliates and broadcast technology partnerships with Technicolor for Advanced HDR delivery.

Name

Capitol Broadcasting Company

Legal name

Capitol Broadcasting Company, Inc.

Website

https://capitolbroadcasting.com

Company type

Private

Founded year

1937

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Capitol Broadcasting Company is a fourth-generation family-owned North Carolina media conglomerate operating four TV stations, 10+ radio stations, WRAL.com, three professional sports teams, and 3M+ sq ft of mixed-use real estate including the American Tobacco Campus and American Underground startup hub.

Ownership category

akta.pro rank

Product category

Broadcasting and Media

NAICS

Radio and Television Broadcasting Stations (5161), Television Broadcasting Stations (51612), Radio Broadcasting Stations (51611)

SIC

Television Broadcasting Stations (4833), Radio Broadcasting Stations (4832)

akta.pro primary industry

Talk/News/Sports Radio Networks & Syndication (MPAIAEAG)

akta.pro secondary industries

Radio Content Production & Studios (On-air Production, Imaging, Jingles) (MPAIAEAL), National Sports Broadcast Networks (MPABAAAC)

Keywords

• Broadcast television networks
• Radio advertising sales
• Minor league baseball
• Commercial real estate
• Digital marketing services

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Television Advertising: Sale of advertising inventory on television stations including WRAL-TV (NBC), WRAZ-TV (FOX), WILM-TV, and WNGT-TV. Ad placement spans across broadcast, OTT, MVPD, VOD, and mobile applications. Rates are adjustable based on demand and availability.
2. Radio Advertising: Sale of advertising inventory on radio stations including WRAL-FM, WCMC-FM, WDNC-AM, WAZO-FM, WILT-FM, WKXB-FM, WMFD-AM, WRMR-FM, and Sunrise Broadcasting cluster.
3. Digital Marketing Services: WRAL Digital Solutions provides full-service digital marketing agency services including content strategy, social media, and advertising technology solutions for business clients.
4. Professional Sports Operations: Revenue from Durham Bulls (Triple-A baseball), Holly Springs Salamanders (Coastal Plain League), and Greenville Yard Gnomes (Coastal Plain League) including ticket sales, concessions, merchandise, and venue naming rights/partnerships.
5. Real Estate Development and Management: CBC Real Estate division develops and manages mixed-use properties including American Tobacco Campus, Rocky Mount Mills, MoJud Lofts, and The Thread. Revenue includes office/retail leasing, property management fees, and development fees.
6. Coworking and Startup Hub: American Underground provides coworking space, flexible memberships, and office leasing to startups and small businesses across three downtown Durham locations.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels9 records

Core offering

Capitol Broadcasting Company operates a diversified portfolio of broadcast media, professional sports, real estate development, and a coworking startup hub across North Carolina. Its core revenue driver is the sale of advertising inventory on owned TV stations (WRAL-TV NBC, WRAZ-TV FOX 50), 10+ radio stations, and digital platforms including WRAL.com and the WRAL App. The company also generates revenue from minor-league sports operations (Durham Bulls), commercial real estate leasing at mixed-use developments, and subscription-based coworking at American Underground.

Product overview

Capitol Broadcasting Company operates a diversified portfolio of media, technology, sports, and real estate businesses centered in North Carolina. The company's media offerings span broadcast television (WRAL-TV NBC affiliate, FOX 50 FOX affiliate), radio (99.9 The Fan ESPN sports radio, MIX 101.5 adult contemporary, WRAL News+ all-news radio, Sunrise Broadcasting cluster in Wilmington), digital platforms (WRAL.com, WRAL App with streaming), and digital marketing services (WRAL Digital Solutions). The sports division includes the Durham Bulls Triple-A baseball team, Holly Springs Salamanders and Greenville Yard Gnomes (Coastal Plain League), and stadium management at Five County Stadium. CBC Real Estate owns and develops mixed-use properties including American Tobacco Campus, Rocky Mount Mills, and Overlook on Main. American Underground provides co-working and startup hub services. A distinctive technology feature is WRAL-TV's AR/VR augmented reality graphics capability used in news storytelling.

Differentiator

Problem solved

Functional benefit

Brands

• WRAL-TV: NBC affiliate television station serving the Research Triangle area with breaking news, weather forecasts, and local programming.
• WRAZ-TV (FOX 50)
• Sunrise Broadcasting
• Durham Bulls
• Holly Springs Salamanders
• Greenville Yard Gnomes
• American Underground
• WRAL Digital Solutions
• American Tobacco Campus
• Rocky Mount Mills
• WRAL News+ Radio
• 99.9 The Fan (ESPN Radio)
• MIX 101.5 (WRAL-FM)

Products and services

• WRAL-TV NBC-affiliated television station serving the Research Triangle area, providing breaking news, weather forecasts, and local content; flagship station of Capitol Broadcasting.
• FOX 50 (WRAZ-TV) FOX-affiliated television station licensed in Raleigh, serving the Research Triangle and Central North Carolina.
• WRAL News+ Radio

Quantifiable outcome

• Radio network reaches nearly 50 affiliate stations across the Carolinas for Duke Athletics coverage
• +1 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Wake County and Town of ZebuloncoreStrategic or Co-development Partner · 2 September 2025Wake County and Zebulon approved sublease agreement allowing Capitol Broadcasting to manage Five County Stadium. CBC will pay $710,000 in lease payments over 10 years while assuming operating costs for the venue, hosting a Coastal Plain League team and Wake Tech events.
• Duke University Athletics / Learfield Blue Devil Sports PropertiescoreStrategic or Co-development Partner · 29 July 2024Multi-year broadcast partnership extension making Capitol Broadcasting the long-standing radio home of Duke Athletics. WRAL News+ (99.3-FM Raleigh, 96.5-FM Durham) and The Buzz (620-AM, 104.5-FM Durham) serve as flagship networks for Duke sports, representing one of nearly 50 affiliate stations across the Carolinas.
• GoogleminorStrategic or Co-development PartnerGoogle maintains partnership with American Underground startup hub, providing support for innovation programs and startup community initiatives at the coworking facility.
• Fidelity Center for Applied Technology (FCAT)minorStrategic or Co-development PartnerFCAT partners with American Underground to support startup ecosystem development and provide resources for entrepreneurs at the Durham coworking hub.
• Self-Help Credit UnionminorStrategic or Co-development PartnerSelf-Help was the former host of American Underground at their building for 10 years before AU returned to American Tobacco Campus. Self-Help maintains long-standing support for Durham innovation ecosystem.
• Little Diversified Architectural ConsultingminorImplementation/ SI/ Consulting PartnerLeading design and construction firm leading the design and construction of new American Underground space at American Tobacco Campus.
• ConsigliminorImplementation/ SI/ Consulting PartnerConstruction partner for American Underground build-out at American Tobacco Campus, working alongside Little Diversified Architectural Consulting.
• Fullsteam Brewery, Ment, Boricua SoulminorGTM or Marketing PartnerLocal restaurant and retail partners at American Tobacco Campus collaborating on events and community programming for American Underground members.
• NC CourageminorStrategic or Co-development PartnerNorth Carolina Courage professional soccer team partnering with Durham Bulls for cross-promotional events, including Soccer Night at the DBAP featuring player appearances and fan engagement activities.

Scale indicators5 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Hubbard Broadcasting: Privately held, family-owned diversified broadcasting company operating local TV and radio stations, plus a publishing division. Closely comparable to CBC as a multi-generational family-owned local broadcast group with adjacent media holdings.
• Gray Television: Publicly traded owner of a large portfolio of local TV stations across the U.S., including NBC/FOX affiliates. Directly comparable in core local TV broadcast operations and affiliate mix (WRAL-TV/WRAZ-TV mirror Gray's dual-affiliate market strategy).
• Tegna: Publicly traded operator of local TV stations and former owner of Cars.com. Comparable as a local broadcast pure-play with a strong digital marketing services arm (similar to WRAL Digital Solutions).
• Sinclair Broadcast Group: Largest pure-play local TV broadcaster in the U.S. with extensive regional sports networks (YES Network, Bally Sports). Directly comparable as a multi-station local TV operator with sports content and digital monetization focus.
• Nexstar Media Group: Largest U.S. local TV broadcaster by revenue, owning CW, FOX, ABC, CBS, and NBC affiliates. Comparable in multi-affiliate local TV broadcast strategy, advertising sales model, and national scale of broadcast holdings.
• Cox Media Group: Privately held local broadcast group operating TV stations, radio stations, and digital advertising platforms. Directly comparable as a diversified local media company with both TV and radio holdings.
• Townsquare Media: Owner of local radio stations and digital advertising platforms focused on small/mid-sized U.S. markets. Directly comparable as a local broadcast operator with integrated digital ad sales (similar to WRAL Digital Solutions).
• Salem Communications: U.S. radio broadcaster focused on talk/news and Christian/music formats with a national multi-market footprint. Comparable as a multi-station local radio operator with niche content positioning.

Broad incumbents

• iHeartMedia: Largest U.S. radio broadcaster with national scale and a leading digital audio advertising platform. Comparable in radio advertising model and multi-market broadcast footprint, but operates at national rather than regional scale.
• Cumulus Media: Second-largest U.S. radio broadcaster operating a national footprint of AM/FM stations plus the Westwood One network. Comparable as a major radio broadcaster with syndicated content and multi-market advertising sales.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/CBCCorporate
• Facebookfacebook.com/durhambulls
• LinkedInlinkedin.com/company/3843025

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capitol Broadcasting Company