Townsquare Media currently owns the stations under Radio Bloomington and Peoria. They include 1230 WJBC-AM, 101.5 WBNQ-FM and 95.5 WGLO-FM.
However, Cumulus Media is working out a deal with Townsquare to take over the radio groups.
It's expected to be finalized in the second quarter, pending approval from the F.C.C.
WJBC-AM Brand Manager RC McBride told WMBD 31 the transition is exciting and could give the stations greater access to talent and technology.
He also said there's no reason to believe so far the new owners will drastically change what listeners are used to hearing.
"WJBC's cornerstone has been local and we don't anticipate any changes. That's what made us successful and that's what's going to keep us successful in the future," he said.
Cumulus Media is the second largest radio broadcast company in the U.S.
It owns more than 500 stations.