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 nation’s 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. Let’s 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
John Garabedian Leaving Open House Party
The 4th Annual CBS RADIO “We Can Survive” Concert
Brooke & Jubal Joins WSHE/Chicago For Mornings
KWEE/Portland Adds Tino Cochino To Nights
October 24, 2016
CBS Radio Names Brian McHale SVP/Information Technology
Nielsen Announces Launch of National Television Out-Of-Home Measurement Service
The Atlantic Records New York Team Celebrates Charli XCX
October 20, 2016
CBS Radio Signs Michael Martin To Multi-Year Contract Renewal
SportsRadio 94WIP/Philly Adds Joe Decamra & Jon Ritchie To Middays
October 19, 2016
Frankie C Extends Agreement With KZHT/Salt Lake City
Voncile Anderson Named Beasley Director/NTR Sales In Tampa Bay
In Brief - October 19, 2016
October 18, 2016
Rob Stringer Promoted To CEO Of Sony Music Entertainment
iHeartMedia St. Louis Announces The Debut Of The New Alt 104.9
Entercom Agrees To Acquire Four Radio Stations In Charlotte From Beasley Broadcast Group
Ebro Returns To Portland
Townsquare Media Names John Roberts OM For Tyler-Longview, Texas
Jacobs Media & PRPD’s 8th Annual Public Radio Tech Survey Released
In Brief - October 18, 2016
October 17, 2016
WFLZ/Tampa Names Kruz Program Director
Republic Records Promotes Wendy Goldstein To Executive Vice President
Alpha Media Mankato Names Bob Rose Market Manager
Corey B. Joins WBBM-FM (B96)/Chicago As New Night Host
October 14, 2016
Race Taylor Re-Ups With WPLJ/New York
Music News
Prince’s Paisley Park Approved to Open Permanently for Public Tours
Quick Hits: Jason Derulo, Alessia Cara, Hailee Steinfeld, Lady Gaga, Tove Lo
Kings of Leon Earn First #1 Album
Quick Hits: The Chainsmokers, Drake, Prince, Sting, Charlie Puth, The Decemberists, Dead or Alive
Quick Hits: Radiohead, Frank Ocean, A$AP Ferg
"Crash" Into Against Me!
Maroon 5 Closes The Top 40 and Hot AC Radio Panels Upon Impact
Jordan Fisher Will Make His Broadway Debut In Hamilton On November 22
Quick Hits: Kanye West, Eminem, Bruno Mars, Gwen Stefani
Pearl Jam, 2Pac & Depeche Mode Lead 2017 Rock Hall Nominees
Green Day Tops Billboard 200 For Their Third Time
Quick Hits: Liam Payne, Rock & Roll Hall Of Fame, Mother Love Bone
Quick Hits: Kings Of Leon, Elton John, Roger Waters
Maroon 5 Debuts New Single Featuring Kendrick Lamar
Louise Goffin To Perform Surprise Concert

Jon Zellner
EVP/Programming Operations

          Question Of
           The Week

FMQB Member Login

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