Cumulus CEO Lew Dickey announced Tuesday his company is buying WFME 94.7 FM in Newark/NYC and expects to close late in 4th quarter 2012.
Seller is evangelist Harold Camping’s Family Stations. Price
was not disclosed.
WFME (with 23,500 watts) becomes Cumulus' third station in NYC. It also owns Hot AC WPLJ and Talk WABC.
As for format: WABC on FM? Country? Alternative? Let the speculation begin!
The NYC RADIO DISCUSSION message board is active, Click Here.
As for format: WABC on FM? Country? Alternative? Let the speculation begin!
Long-time market observer and radio media writer, VinceSantarelli weighed-in on a possible format:
“For my money, though, I see this as the perfect landing spot for the
new CBS Sports Radio network set for launch on January 2, 2013. This would put
the new network in the nation's number one market. It would also allow CBS to
keep the WFAN AM and FM simulcast going.”
UPDATE 10/16 8pm: As for the possibility of a country format. Consultant Mike O’Malley (former WYNY PD) offers: “It's
interesting how many times over the years country has been proposed as a format
in the New York
metro. Certainly New Jersey has a good number of country
fans. Townsquare's WPUR/Cat Country in Atlantic
City generally does very well as does the Press'
Thunder 106 in Monmouth-Ocean. The current-to-gold ratios and number of
currents are somewhat different for these stations, though each occupies a good
position in their respective markets.”
Meanwhile, Crainsnewyork.com is reporting an industry
executive familiar with the terms of Tuesday's transaction says Cumulus is
paying $40 million for the station—a bargain compared to some recent deals in
the market. Radio observers are speculating that Cumulus will either
flip WFME to a rock station to fill the gap left by 101.9, or turn it into a
country station—something the city hasn't had in years.
This NYC Cumulus buy could be just the tip of the iceberg of
what’s to come. Media expert Jerry Del Colliano says he’s hearing Cumulus is
considering buying what could be a significant number of CBS clusters. Jerry adds CBS and Cumulus are already in bed
with the CBS Radio Sports Network and now it appears CBS is considering
unloading some markets to Cumulus. (Read more from Jerry at http://insidemusicmedia.com/ (paid subscription).
The NYC RADIO DISCUSSION message board is active, Click Here.
Tom's Take: Super signal just waiting for someone to come along. As for format, I believe there's at least one that can be ruled out: All-News!
What's Next For 94.7 FM in NYC? Our Bob Gale explores, plus he wonders if WLS-FM in Chicago is missing an opportunity, Click Here.
We need a country station for the NY market--country has certainly changed since even the 97.1/103.5/107.1 days!!!!
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