Merlin Sells WRXP/New York To CBS Radio, Will Flip To WFAN Simulcast
October 8, 2012

Merlin Media has announced it is selling Modern Rock WRXP/New York to CBS Radio, just over a year after the station was acquired from Emmis and mere months after it flipped from News/Talk back to a Rock format. CBS confirmed it is buying 'RXP for $75 million and will flip the station to a simulcast of Sports WFAN-AM as WFAN-FM. In late fall, CBS Radio will begin operating the station under a LMA, launching a simulcast of "The Fan."

"This is an extremely exciting opportunity to expand our radio presence in the nationís largest market," said Dan Mason, President/CEO of CBS Radio. "Sports is a very popular format and a huge growth category for our business.  As a result of this new asset, we look forward to The Fan building on its position as the leading sports radio franchise in the country."

Merlin CEO Randy Michaels made the announcement to staffers in a memo today, writing, "Rumors about Merlin have been rampant. Today we are announcing the sale of WRXP/New York. Many talented people have worked hard to create a terrific Alternative station, but our obligation to retire significant debt necessitates this decision. Thanks to everyone for your hard work with New Rock 101.9. The formats initial success made the decision very difficult."

He added, "There is a very positive impact of this sale on our balance sheet. This change allows us to increase focus on operating a successful company. Merlin is not for sale, and is looking at possible additions to our portfolio. Letís focus building the Chicago and Philadelphia stations into great, profitable brands and great places to work."

Last month, Time Out Chicago's Robert Feder reported that GTCR, the private equity firm that teamed with Michaels to form Merlin, was "actively seeking buyers for all of Merlin Media's properties."




 
Breaking News
eQB NOW
The Week In Review: 10/20-10/24
Beasley Broadcast Group Issues Third Quarter Results
Pandora Reports Q3 2014 Financial Results
Deezer Acquires Stitcher
In Brief - October 24, 2014
October 23, 2014
Nielsen Reports Third Quarter 2014 Results, Announces $1B Share Repurchase Authorization
iHeartRadio Now Available For Use In Apple's CarPlay
In Brief - October 23, 2014
October 22, 2014
Pandora AMP Allows For "Large Scale" Artist Analytics
Spanish Broadcasting System Names Eric Garcia Radio Revenue Chief, GM, New York Market
The Conclave To Honor Ginny Morris With The Rockwell Award
In Brief - October 22, 2014
October 21, 2014
Report: Ron Fair Departs Virgin Records
Adobe, Nielsen To Create Comprehensive Measurement Platform For Digital Content
DMR/Interactive Names Doug Smith VP/Marketing Strategy
Triton Digital's August 2014 Ranker: Major News Events Show Impact On Top 20 Streaming Audio Markets
October 20, 2014
iHeartMedia San Francisco Names Mark Adams PD of KYLD & KIOI
Premiere Networks Promotes Claudine Cazian To VP/Programming & Branded Entertainment
Entercom Names Carlos Lamadrid VP/National Sales, Strategic Partnerships
Pandora Hires Steve Benť As General Counsel
In Brief - October 20, 2014
October 17, 2014
In Brief - October 17, 2014
The Week In Review: 10/13-10/17
October 16, 2014
Music News
Taylor Swift Talks Pop Genre, 1989 & More
The Week In Review: 10/20-10/24
Quick Hits: The Grammys, Sam Smith, Foo Fighters, The Grateful Dead
Taylor Swift Reveals Songs of 1989
One Direction Goes "On The Road Again"
Quick Hits: American Music Awards, Justin Timberlake, New Now Next Awards, Foo Fighters, Jake Miller, ShipRocked
Florida Georgia Line, Bob Seger Lead Sales Chart
Quick Hits: Taylor Swift, Foo Fighters, Gwen Stefani, Cold War Kids
Charli XCX, Haim and More Contribute to Hunger Games
Quick Hits: Meghan Trainor, Smashing Pumpkins, Milky Chance
U2 Sits Down For Intimate Radio Special
Quick Hits: Coldplay, Gwen Stefani, Foo Fighters, Dropkick Murphys, Madisen Ward and the Mama Bear
One Direction Reveal Four Tracklist
The Week In Review: 10/20-10/24
Quick Hits: Iggy Azalea, U2, Snoop Dogg / Pharrell, iHeartRadio Fiesta Latina
FMQB NOW

Christopher K
APD/MD, KDND & KUDL
Sacramento

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!