The company that has been scooping up stations all over the country for the past several years has sold one. The Blacksburg, VA based Virginia Tech Foundation is purchasing WNVU-FM from EMF for $2.15 million. Jon Yingers of the brokerage from Broadcast Properties fills us in on the details
The Virginia Tech Foundation – WVTF Radio IQ – will expand its reach in the Richmond metro area with the acquisition of WNVU-FM. WVTF now has 24 stations throughout the Commonwealth of Virginia. WNVU is 25,000 watts. GM Roger Duvall said, “Virginia Tech and WVTF radio have invested significant funds over the years to ensure that communities as diverse as Charlottesville, Fredericksburg, and Wise have access to important news and information from a wide variety of sources. Our statewide approach to reporting local and regional news has a significant audience in the Richmond market, and we are taking this opportunity to expand our footprint and to improve our quality of service to the commonwealth.”
In 2015, Educational Media Foundation purchased the station from the American Family Association for $1.25 million. EMF flipped the format to its K-Love network. In 2017 the format was changed to Spanish and the K-Love format was moved to two other EMF stations purchased by the company in the area, WLVF (Richmond) and WKYV (Petersberg)
The Virginia Tech Foundation has operated WVTF since the early 1980s, when it acquired the public radio station from Virginia Western Community College. WVTF’s broadcasting area has grown considerably ever since. WVTF has maintained a presence in Richmond since 2009, when it acquired a low power frequency at 92.5 FM to broadcast its Radio IQ service. At that time, greater Richmond did not have a full-time NPR news station. That station grew its power to 220 watts in 2013. 92.5 FM will continue to broadcast Radio IQ.
The acquisition of WNVU, 89.7 FM began in spring 2018, when Educational Media Foundation expressed interest in selling the facility. WNVU will eventually feature flagship NPR programs and be the exclusive carrier of programs such as The Daily from the New York Times and 1A, which is produced at WAMU in Northern Virginia.
Andrew Guest of Guest Technology LLC represented the buyer in the deal.