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The Official Announcement

10-8-2012

As we speculated last week, and despite Randy Michaels saying Merlin was not for sale, CBS radio has picked up Merlin's New York City FM and will flip the format to WFAN. The $75 million purchase of WRXP from Merlin Media was announced Monday. In late fall, CBS will begin its operation of the station under an LMA, launching a simulcast of Sports Radio 66 WFAN.

CBS Radio President Dan Mason said, This is an extremely exciting opportunity to expand our radio presence in the nations largest market. 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.

Here's the e-mail Randy Michaels sent out to his New York employees:

Merlin Staff,

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 format's initial success made the decision very difficult.

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. Lets focus building the Chicago and Philadelphia stations into great, profitable brands and great places to work.

Lets go!

Randy




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- DXIUFPbCm
(10/11/2012 1:14:46 PM)
I would like to use the success of WRXP to show other radio groups, like perhaps Greater Media and Ellis to acquire a Rock station in NYC. This is getting RIDICULOUS NOW! Even when something takes off like fire it can't last? Why not? There is NO COMPETITION for this music in NYC... why don't the big wigs see this... are they RETARDED! Wouldn't any station that filled this slot succeed wildly? Boston has like 6 of them... I mean... if I hear Rhianna again... I am going to THROW UP!!!!

- Stephanie
(10/9/2012 10:33:21 AM)
I've known Randy since we competed in Cincinnati in the early 70's. Randy should have had the good sense to stay away from venture vultures. The Merlin backers don't understand the broadcast business nor the fact that Randy walks to the beat of a different drum. Not a good match from the start! Unless Randy finds new financial backers, all the Merlin facilities most likely will be sold.

- Cliff Hunter
(10/9/2012 2:59:09 AM)
I am really gonna miss New Rock 101.9, eventhough it was on for only 3 months. It's really sad that in the largest media market in the country rock stations can't survive. KROCK, WNEW how i miss the 90's.

- Ricky
(10/9/2012 2:38:01 AM)
And it was just last week that Randy told Radio Ink Merlin was not for sale. Randy clearly has no knowledge of what his backers are doing - otherwise he would not have subjected himself to look like a liar in just over a week.

- AndyTravis

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