Family Stations, Inc. Friday announced that it has reached
an agreement to purchase Greater Media Philadelphia’s station WPEN-AM, licensed
to Philadelphia, PA. WPEN-AM is a Class B station that transmits on 950 kHz
with daytime power of 43,000 watts and nighttime power of 21,000 watts.
Greater Media will retain the WPEN call letters for its FM
Sports station, 97.5 The Fanatic. The transaction is subject to customary
conditions, including regulatory and other approvals, and WPEN-AM will continue
to air its current line-up of sports programming while the closing is pending.
Media Venture Partners, LLC represented Family Stations in
the transaction. Rumored price $8.5M.
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