Earlier this month, Radio Ink reported that Oklahoma entrepreneur and optometrist Dr. Robert Zoellner was acquiring Cox Media Group’s full Tulsa radio cluster. We now know the purchase price for the five-station deal, according to newly filed FCC documents.
Zoellner Media Group, equally owned by Dr. Zoellner and his wife, Amy, has bought KRMG 102.3 FM and K95.5 (KWEN-AM/FM), Mix 96.5 (KRAV), and 103.3 The Eagle (KJSR) for $20 million. The initial escrow deposit totals $500,000. Pending FCC approval, the transaction is expected to close in the early second half of 2025.
The sale was brokered by Mark Jorgenson of Jorgenson Broadcast Brokerage. Evan McLemore of Levinson, Smith & Huffman, P.C. represented the buyers, while Henry Wendel of Cooley LLP served as legal representative for CMG.
Dr. Zoellner, a longtime radio advertiser and first-time station owner, has appointed former CMG Tulsa executive Steve Hunter as President and General Manager. Hunter previously held leadership roles at Scripps Radio and Griffin Media.
This is Cox Media Group’s second total cluster divestment in just over two years. In April 2023, the company exited its Houston radio holdings in a $27.5 million deal with Urban One. That acquisition included four stations: 93Q (KKBQ), The Eagle simulcast (KHPT and KGLK), and Country Legends 97.1 (KTHT).
