That nugget of information was detailed in an SEC filing by Urban One on Friday. Last week Emmis and Urban One announced that Alfred Liggins’ company would be purchasing the last remaining radio cluster from Emmis, which has been exiting the radio business over the last several years.
Urban One is picking up WYXB-FM 105.7, WLHK-FM 97.1, WIBC-FM 93.1 and two FM translators and Network Indiana.
Emmis will sell WHHH-FM to a third party to keep Urban One within the FCC’s ownership cap rules.
As of today, Urban One owns WTLC-FM, WTLC-AM, WNOW-FM, WHHI-FM and translator W286CM in Indianapolis. They also own a TV station in the market.
All transactions are subject to the FCC’s final signature and Emmis will continue to operate its cluster in Monument Circle until that happens.
How sad. Radio station values have plummeted. 15, certainly 20 years ago, just one strong -revenue producing FM signal in a medium or major market would have commanded 25, 50 million or more. Now you can buy an entire cluster for 25 million. Wow. You can’t blame Smukyan for taking the money and running. Station values are going down, down, down…
As someone who used to work for Urban (Radio) One. Might I suggest the employees start sending out resumes now.