Monday, August 24, 2009

WQXR - FM New York Sold - $45 Million

Prelude By Mark Tillery

After 65-years of continuous ownership, the New York Times Company has announced it will sell New York City's longest running and only remaining commercial Classical FM radio station in a three way deal - The total price: $45 Million to the Times.

In the deal, WNYC Radio will acquire the WQXR call letters and the classical format while Univision will acquire the 96.3 class B frequency. Univision's existing WCAA frequency, which operates on 105.9 and in licensed to Newark, New Jersey, and the heritage WQXR call letters and classical and cultural programming will go to WNYC Radio while Univision's WCAA will move to the coveted mid FM dial position located at 96.3.

The story was originally announced by the New York Times on July 14th. Click the link below for the complete story.

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