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Monday, October 8, 2012

WXRP Sold to CBS Radio

THAT WAS QUICK: WRXP N.Y., which went from an all-news format to Alternative, quadrupling its ratings in the process, was sold by Merlin Media to CBS Radio for a reported $75 million. The company will take over 101.9 FM and simulcast the sports outlet WFAN AM starting in mid-November. CBS already owns three AM and three FM stations in the market, along with two TV stations in WCBS TV and WLNY TV. Said CBS Radio President/CEO Dan Mason: “Sports is a very popular format and a huge growth category for our business. We look forward to The Fan building in its position as the leading sports radio franchise in the country.” Merlin’s Randy Michaels pointed to “our obligation to retire significant debt” for the sale, adding they are “looking at possible additions to our portfolio.” (10/8p)

 
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