**Alert:** Emmis Buys New York Pair - WBLS and WLIB
Briefing by Inside Radio
Emmis Communications has struck a $131 million deal to buy urban AC WBLS (107.5) and gospel WLIB (1190) from YMF Media. The two stations will be paired with Emmis’ heritage urban outlet “Hot 97” WQHT. The operations and studios for WBLS and WQHT have been co-located with WQHT since 2012, and more than 40% of their employees are Emmis alumni drawn from its former New York urban AC “Kiss 98.7” WRKS.
"Today's announcement is indicative of our belief in the US radio industry and our desire to increase our footprint in the nation's largest market," Emmis CEO Jeff Smulyan says in a statement. "Emmis has deep ties to the New York African-American community, and it is with great pride we take the helm of these iconic stations."
YMF general manager Deon Levingston will become GM of Emmis' New York cluster when the a local marketing agreement begins March 1. Levingston previously worked for Emmis in various management roles.
1 Comments:
YMF purchased ICBC for sixty million, sold the parts for over 160 million in 24 months. Best return on investment since the drug trade.
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