Cumulus Radio Buys WFME, NYC Market

Cumulus is expanding its footprint in the nation's largest market.

Cumulus CEO Lew Dickey announced Tuesday his company is buying WFME 94.7 FM in Newark/NYC and expects to close late in 4^th 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!

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.