NYC Radio: Reports Of Radio Disney Sale Are False

The New York Daily News ran a story Tuesday saying that a buyer had been found for WQEW 1560 AM, Radio Disney’s New York outlet.

Rbr.com is reporting the broker handling the sale of the Radio Disney group has stated there is no deal as yet.

The entire Radio Disney station group, featuring numerous attractive radio markets but with access provided by less-attractive AM stations, is for sale.

• Read Original Sale Posting: Click Here

• Read Disney Talking with Proespective Buys Posting: Click Here

The News reported that religious non-profit Family Radio, a subsidiary of Family Stations, was the buyer for a reported $12M.

Bill Schutz of Schutz & Company is handling the sale of the Disney group, and he said that there is in fact no deal as yet.

Radio Disney acquired WQEW from The New York Times pursuant to a 1/23/07 contract for $40M cash.

Family stations sold its New York FM, WFME-FM, to Cumulus back in 2012 for $40M plus WDVY-FM Mount Kisco NY, which serves the Big Apple commuter market of Stamford-Norwalk CT. Family stands to make an additional $8.5M if Cumulus is successful in relocating the Newark NJ station into one of New York City’s five boroughs, and can make an additional $1.5M if Cumulus makes the move with better than Class B1 status.