Galaxy Sells Utica Classic Rocker To Townsquare

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This isn’t something we see often. One company with a cluster, selling one of their very successful stations to a competitor, who also has a cluster in the same market. Ed Levine’s Galaxy Communications is selling WOUR to Townsquare in Utica, New York, for $3.9 million.

The Heritage Classic Rocker strengthens the Townsquare cluster in Utica (Townsquare will now have four FMs and one AM) and Galaxy gets a nice payday for the station. Back in 2007, Galaxy picked up WOUR — and six other stations — from Clear Channel for $3.1 million. And, from what we understand, there will be no jobs lost as a result of this deal.

Both companies have signed a Joint Sales Agreement, which means for now Galaxy will continue to program the station and Townsquare will take over sales.

With the sale of WOUR, Galaxy’s cluster in Utica will now consist of four brands on six signals: WKLL-FM (KROCK), WKLL HD2 (99.1 TONY FM), WUMX(Mix 102.5), and WTLB/WRNY/WIXT ( ESPN Radio). WOUR-FM will join Townsquare’s existing Utica stations: WFRG-FM 104.3, WLZW-FM 98.7, WODZ-FM 96.1, and WIBX-AM 950.

The deal is expected to close in the second quarter. Bergner & Co. was the broker for Galaxy on the deal.

Here’s the memo Galaxy CEO Ed Levine posted to Facebook last night:

1 COMMENT

  1. Very responsible decision, given how debt is hurting the growth of so many radio companies. I’m sure this was a difficult decision for Ed, who personally knows and respects the heritage of WOUR, a legendary radio station in Central NY.

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