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
CMG Tampa Appoints John E. Kage Dir. of Branding & Programming at Hot 101.5 FM
In Brief - November 25, 2015
November 24, 2015
FCC Fines Drawing Scrutiny In Congress
In Brief - November 24, 2015
November 23, 2015
Bill Hess Named OM At Cumulus-Washington, D.C.
In Brief - November 23, 2015
November 20, 2015
Adams Radio Group Of Delmarva Names Jay Gleason Operations Manager
iHeartRadio Presents AdeleĻs Album Premiere Live from JoeĻs Pub†
Radio Mercury Awards Announces Advisory Council
November 19, 2015
Westwood One: The State of American Podcasting
Nielsen: Connecting With Political Millennials Through Music
Jacobs Media Webinar: 10 Mega Trends That Impact Radio
November 18, 2015
Republic Records Promotes Ben Adelson To SVP/A&R
Y100ís TC Wins Dancing with the Savannah Stars
Greater Media's Magic 106.7 To Become Boston's Christmas Station
November 17, 2015
Alissa Pollack To Be Honored At T.J. Martell Foundationís 16th Annual New York Family Day
Cash Money Records Announces Annual Turkey Giveaways in Miami & New Orleans
Amanda "AJ" Malone Joins iHeartMedia/Indianapolis
Jacobs Media Blogs Radioís Days as a Primary Traffic Source May Be Numbered
November 16, 2015
Pandora to Acquire Key Assets from Rdio
Apple To Close Beats Music
Entercom Adds Ashley O. To Mornings On WSFS/Miami
Music News
Adele's 25 Smashes Sales Record
Quick Hits: Adele, Eagles of Death Metal, Charli XCX, Joe Jonas
Quick Hits: Charlie Puth, Coldplay, Jack ‹
Bieber, One Direction Lead Billboard 200 Shakeup
One Direction, The Weeknd Win Multiple AMAs
Rihanna Announces Anti World Tour, Teases New Album
Foo Fighters Release Free EP
Quick Hits: Coldplay, U2, The Cure, Wilco
Chris Martin Talks Influences On New Coldplay Record
Quick Hits: Foo Fighters, Justin Bieber & One Direction, American Music Awards, Paris attacks, Tori Kelly
Adele's 25 Won't Be On Streaming Services
Quick Hits: Kelly Clarkson, Missy Elliott, Jimmy Eat World, Freddie Mercury, Bonnaroo
Zayn Malik Opens Up About One Direction Exit
Quick Hits: Firefly Music Festival, Eagles of Death Metal, Grammy Hall of Fame
Adele Unleashes Video For "When We Were Young"

Manny Simon
VP/Adult Formats,
Republic Records

FMQB Member Login

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