In 2004, independently owned Ohio station WOXYwas sold after 22 years. The Internet stream of the Alternative station proved so popular that after the terrestrial station flipped formats, the Web version of WOXY lived on at woxy.com. The station has spent the past two years as its own stand-alone company, trying different business models to stay afloat, but has now announced that it would be shutting down due to financial reasons.
In a statement on the Web site, WOXY.com's staff writes, "This is the moment all of us hoped would never come. After plugging away at this for the past two years, it’s become pretty clear that operating WOXY.com as a stand-alone Internet "radio station" is not going to cut it. Our operating costs are higher than you might think, and the revenue we were able to generate from advertising isn’t close to supporting what we’re doing. Even membership revenue wasn’t enough to get us there. When your business doesn’t make money, you eventually go out of business."
The staff say that they are still looking for a company to partner with, "someone with a larger plan into which woxy.com could be plugged" (a la the recently-launchedY-Rock On XPN service). They add that, "You might be saying, "What can I do to help?" Unfortunately, unless you have significant investment capital and a way to profit from the wonderful programming we create, you can’t. As of today, we will no longer be selling or renewing memberships or accepting contributions. Please don’t send us money ... it will just mean we have to send it back to you."
As of now, WOXY's last day of broadcasting is scheduled for September 15. The entire announcement can be read at WOXY.com.