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
Chris Edge Adds PD Duties At WDCG/Raleigh
SoundExchange Q2 Digital Radio Report Highlights Digital Radio Transformation
In Brief - August 22, 2014
August 21, 2014
NuVoodoo Ratings Prospect Study Reveals Broadcast Radio Beats Pandora For Music Satisfaction
CBS Radio Adds To Sports Programming Leadership Team
iHeartRadio Survey: Carrie Underwood Musicís Best Female Role Model
In Brief - August 21, 2014
August 20, 2014
Cox Media Group Tampa Names Dan Mason OM For HOT 101.5, 97X, 102.5 The Bone
Logan Named PD/Morning Host At WNCV/Fort Walton Beach
Jay Towers Promoted To Anchor Of Fox 2 Morning News in Detroit
In Brief - August 20, 2014
August 19, 2014
Greg Ausham Named PD At WNNX/Atlanta
Emmis Communications, Beasley Broadcast Group Deploy Jelli Radio Ad Platform In Major Markets
Cumulus Taps Dan Mandis As PD Of WWTN/Nashville
In Brief - August 19, 2014
August 18, 2014
Republic Records Promotes David "Davey Dee" Ingenloff to VP/Rhythm Crossover Promotion
NAB President/CEO Gordon Smith To Keynote The Conclave
Westwood One Names George King VP/Programming, Network Formats
Cox Media Group Miami Launches The DJ Laz Morning Show on WFLC
Vince Szydlowski Named SVP, Label Sales For Capitol Music Group
In Brief - August 18, 2014
August 15, 2014
eQB NOW
The Week In Review: 8/11-8/15
CCM+E Miami Names Michael "Mud" Gross PD At WBGG-FM
Music News
Nickelback Signs With Republic Records
Quick Hits: Jessie J, Foo Fighters, Mariah Carey & Nick Cannon, Genesis, Fall Out Boy
Quick Hits: Nico & Vinz, Sam Smith, Weezer, Ariana Grande, Shelby Lynne, Enrique Iglesias, T.I., Iggy Azalea
Quick Hits: album sales, Taylor Swift, Foo Fighters, Super Bowl halftime show, Gerard Way, Tiesto, Smashing Pumpkins
New Taylor Swift Album Due Out October 27
Quick Hits: Lady Gaga & Tony Bennett, Haim, Fashion Rocks concert, T.I., iTunes Festival, Unlocking the Truth, Leonard Cohen
Colbie Caillat Sets September 30 Street Date
Quick Hits: Coldplay, U2, Christina Aguilera, B.o.B, Wiz Khalifa, Becky G, Bob Seeger
Lil Wayne's Tha Carter V Coming October 28
Quick Hits: Nickelback, Sia, Shindig Music Festival, Def Jam Records, Annie Lennox
The Week In Review: 8/11-8/15
Quick Hits: Taylor Swift, Sam Smith, Meghan Trainor, Primus / Tool, Becky G, John Mellencamp
Guardians Of The Galaxy's Awesome Mix Hits #1
Quick Hits: Nicki Minaj, Death Cab For Cutie, Metro Station, Celine Dion, She & Him, Karen O
Honda Stage Launches at iHeartRadio Theater L.A.
FMQB NOW

Jeff Sottolano
Director of Programming
CBS Radio

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!