Wray Radio
Wray Radio is a fourth-generation, family-owned country music radio station cluster in Princeton, Indiana, operating three FCC-licensed frequencies (98.1 FM, 94.3 FM, 1250 AM) that reach 34 counties across Southwest Indiana, Northwest Kentucky, and Southeast Illinois, and sells customized advertising campaigns to local and regional businesses.
- Company typePrivate
- Founded1950
- HeadquartersPrinceton, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Wray Radio does
Wray Radio, legally Princeton Broadcasting Company, Inc., is a privately held, fourth-generation family-owned radio broadcasting company headquartered at 1900 W Broadway St, Princeton, Indiana. Founded by M.R. Lankford on December 16, 1950, the company operates a cluster of three frequencies — WRAY 1250 AM (1950), WRAY 98.1 FM (1960), and WRAY 94.3 FM — broadcasting a country music format across 34 counties spanning Southwest Indiana, Northwest Kentucky, and Southeast Illinois. The station blends its own live local programming (Morning Cruise, Goin' Home Show, Country Gold, Saturday Morning With Mark, Saturday Afternoon Cruise, and the WRAY Shuffle music block) with nationally syndicated country shows (After MidNite with Granger Smith, American Country Countdown, Country Countdown USA, The Crook & Chase Countdown, and Rise Up Country).
The company's revenue model is advertising-driven: an experienced in-house sales and marketing team sells customized, quote-based advertising campaigns to local and regional SMB advertisers across the 34-county tri-state coverage area, complemented by website-based audio streaming at wrayradio.com. Distribution occurs through over-the-air FM/AM broadcast and online streaming, with top-of-funnel listener engagement via Facebook, Instagram, and X/Twitter. The business operates with 1–10 employees, has no external investors or parent company, holds no disclosed patents, and has not engaged in M&A or external fundraising.
From an investment perspective, Wray Radio is a stable legacy small-market broadcast asset whose competitive position rests on FCC-licensed spectrum, a multi-decade community brand, and tri-state regional distribution rather than on technology, AI capability, or scale economics. The business is structurally tied to rural Southwest Indiana advertising budgets and has limited exposure to digital audio growth opportunities, with no signal of expansion, fundraising, or strategic pivots in the available data.
Wray Radio firmographics
Firmographics- Name
- Wray Radio
- Legal name
- Princeton Broadcasting Company, Inc.
- Website
- https://wrayradio.com
- Company type
- Private
- Founded year
- 1950
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Wray Radio is a fourth-generation, family-owned country music radio station cluster in Princeton, Indiana, operating three FCC-licensed frequencies (98.1 FM, 94.3 FM, 1250 AM) that reach 34 counties across Southwest Indiana, Northwest Kentucky, and Southeast Illinois, and sells customized advertising campaigns to local and regional businesses.
- Ownership category
- akta.pro rank
Wray Radio industry classification
Industry- Product category
- Radio Broadcasting
- NAICS
- Radio Broadcasting Stations (51611), Radio Broadcasting Stations (516110)
- SIC
- Radio Broadcasting Stations (4832)
- akta.pro primary industry
- Local Radio Station Groups (Owned & Operated/Station Chains) (MPABACAC)
- akta.pro secondary industry
- Radio Streaming & Catch-Up Audio Platforms (MPAIADAJ)
Keywords
Where Wray Radio is headquartered
LocationHeadquarters
- HQ city
- Princeton
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Wray Radio business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Radio Advertising: WRAY generates revenue by selling advertising slots to local businesses. The station offers customized campaigns that combine consistency, relevance, and creative storytelling to reach thousands of engaged listeners across their regional coverage area.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels3 records
Wray Radio product offering
Product offeringCore offering
Wray Radio is a country music radio broadcasting operation owned by Princeton Broadcasting Company, Inc., transmitting on 98.1 FM, 94.3 FM, and 1250 AM to listeners across Southwest Indiana, Northwest Kentucky, and Southeast Illinois (34 counties). The station sells commercial advertising airtime to local and regional businesses seeking to reach its rural, country-listening audience.
Product overview
Wray Radio is a radio broadcasting company operated by Princeton Broadcasting Company, Inc., owned by the Lankford family for four generations. The company operates a cluster of radio stations including WRAY 98.1 FM (main country music station), WRAY 94.3 FM, and WRAY 1250 AM, all based in Princeton, Indiana. The portfolio includes live local programming such as Morning Cruise, Goin' Home Show, Country Gold, Saturday Morning With Mark, Saturday Afternoon Cruise, and WRAY Shuffle – Current Music. Additionally, WRAY carries syndicated programming including After MidNite with Granger Smith, American Country Countdown with Ryan Fox, Country Countdown USA with Lon Helton, The Crook & Chase Countdown, and Rise Up Country with John Ritter. The company also offers advertising and marketing services to businesses across a 34-county coverage area.
Differentiator
Problem solved
Functional benefit
Products and services
- WRAY 98.1 FM Country Radio
- WRAY 94.3 FM Country Radio
- WRAY 1250 AM Country Radio
- Local Radio Advertising Airtime
Companies that use Wray Radio
Customer profileSegments1 record
Ideal customer profiles1 record
Wray Radio technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Wray Radio partnerships and signals
Strategic signalScale indicators3 records
Recent moves3 records
Expansion highlights2 records
Wray Radio competitors and assessment
Company assessmentBroad incumbents
- Townsquare Media: Townsquare Media is a larger U.S. radio broadcaster operating stations in small and mid-sized markets nationwide, including country formats. It competes with WRAY for local advertising share in similarly sized markets but at materially greater scale.
- iHeartMedia: iHeartMedia is the largest U.S. radio broadcaster with hundreds of stations, a national digital platform, and a country music portfolio. While vastly larger than WRAY, it competes indirectly for country listener attention and national/local advertising budgets in overlapping markets.
- Cumulus Media: Cumulus Media operates a large national footprint of radio stations, including significant country-format holdings (e.g., NASH FM), and a syndicated show network. It is a broad incumbent in the same space but at a scale and digital capability well beyond WRAY's.
Direct peers
- Saga Communications: Saga Communications is a smaller-cap U.S. radio broadcasting company operating clusters of FM and AM stations in mid-sized and small markets, with a similar focus on local advertising sales. Its station-group operating model and reliance on local ad revenue make it directly comparable to WRAY's Princeton Broadcasting cluster.
- Salem Communications: Salem Communications operates small-to-mid market radio stations nationwide with a mix of talk, news, and music formats. Its model of clustering local stations and selling local advertising to SMBs parallels WRAY's operation, though Salem's formats skew talk/news rather than country.
- Good Karma Brands: Good Karma Brands operates a portfolio of local AM/FM radio stations (notably in Wisconsin and other Midwest markets) and focuses on sports and news formats. Its regional station-cluster model and local advertiser base make it a structural peer for a tri-state broadcast group like WRAY.
- Beasley Media Group: Beasley Media Group operates a portfolio of local radio stations across multiple U.S. markets, monetizing through local advertising and digital extensions. Like WRAY, it competes on community-rooted localism and SMB advertiser relationships.
- Heartland Media: Heartland Media owns and operates local broadcast stations (radio and TV) in smaller U.S. markets, with a focus on community-driven content and local advertising. Its small-market operating footprint and local sales model closely mirror WRAY's regional tri-state approach.
- Emmis Communications: Emmis Communications owns and operates radio stations in select U.S. markets along with local media assets. Its emphasis on local-market radio broadcasting and community-driven content makes it a relevant comparable for WRAY's regional station group.
Emerging players
- Educational Media Foundation (K-LOVE / Air1): EMF Broadcasting operates the K-LOVE and Air1 radio networks, a non-commercial multi-station network with significant country-adjacent and Christian music programming distributed nationally. Its non-commercial model differs from WRAY's ad sales model, but it represents a competing audio format competing for listener attention in similar markets.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Wray Radio social profiles
Digital presenceWray Radio financial estimates
Financial estimateRevenue estimate
Valuation estimate
Wray Radio leadership team
Management profileNumber of profiles
Wray Radio funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Wray Radio M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Wray Radio
What does Wray Radio do?
Wray Radio is a country music radio broadcasting operation owned by Princeton Broadcasting Company, Inc., transmitting on 98.1 FM, 94.3 FM, and 1250 AM to listeners across Southwest Indiana, Northwest Kentucky, and Southeast Illinois (34 counties). The station sells commercial advertising airtime to local and regional businesses seeking to reach its rural, country-listening audience.
Is Wray Radio a public or private company?
Wray Radio is a private company. It is classified as family owned and is currently operating.
When was Wray Radio founded?
Wray Radio was founded in 1950. It employs 1 to 10 people.
Where is Wray Radio based?
Wray Radio is headquartered in Princeton, United States, in the North America region.
How does Wray Radio make money?
One revenue line is on record: radio Advertising.
Who are Wray Radio's main competitors?
Broad incumbents on record are Townsquare Media, iHeartMedia and Cumulus Media. Direct peers are Saga Communications, Salem Communications, Good Karma Brands, Beasley Media Group, Heartland Media and Emmis Communications. Educational Media Foundation (K-LOVE / Air1) is listed as an emerging player.
Does Wray Radio have an API?
No public API is recorded for Wray Radio.
What industry is Wray Radio in?
Wray Radio's product category is Radio Broadcasting. Its primary akta.pro industry code is MPABACAC, Local Radio Station Groups (Owned & Operated/Station Chains), with a secondary code of MPAIADAJ, Radio Streaming & Catch-Up Audio Platforms. Its NAICS code is 51611 and its SIC code is 4832.