Fat Cat Radio Company Buys Paul's Favorite Station

Tagged:  

The second largest radio company in the United States wants to buy Paul Wohlfarth's favorite radio station.
Three of Detroit's Citadel owned-radio stations have been sold as part of a huge Citadel deal with Cumulus, according to a report posted Thursday on the Web site of industry trade publication Radio Ink.

The three Detroit stations that would be affected by the deal are WJR-AM (760), WDVD-FM (96.3) and WDRQ-FM (93.1).

Radio Ink reported that news of the transaction -- valued at $2.4 billion and $1.5 billion in market equity -- was leaked internally.

Radio insiders have known about the possible deal for weeks. WJR's Paul W. Smith explored the subject on his show Thursday.

Radio Ink was unable to reach Lew Dickey of Cumulus or Farid Suleman of Citadel for comment. Names & Faces wasn't able to reach representatives from the Detroit stations late Thursday afternoon.

Cumulus owns stations in Ann Arbor, including adult alternative station WKQL-FM (107.1), sports talker WTKA-AM (1050) and country station WWWW-FM (102.9).

It's too early to say what the deal means for local listeners. A local industry insider told Names & Faces that stations are having difficulty raising revenue and looking to cut costs. Consolidations often mean the elimination of jobs and possibly the loss of on-air personalities, the source said.

No votes yet