D-C Radio: Cumulus Puts WMAL Property On the Market

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Cumulus Media, the owner of Washington talker WMAL 630 AM has  put its 75-acre transmitter site in Bethesda on the market last week.  According to a report, it's the first step in what will likely be the area's largest redevelopment project in years.

Cumulus Media is receiving offers until March 12 from developers interested in the residential property, located at 7115 Greentree Road near the Beltway and I-270 spur, according to the Montgomery County Sentinel.

Local real estate experts estimate the property could be worth hundreds of millions. There is no asking price, but a representative from Cumulus’ brokerage firm CBRE Group, Inc. said the property’s size and location should command strong competition.

“Seventy-five acres in Bethesda,” said John Sheridan, Senior Vice President for CBRE. “You don’t need to say anything more than that. It is a huge parcel of land with some of the highest income demographics. There’s the potential to build 300 or more homes.”

Cumulus took control of the 90-year old station in 2011 when it purchased Citadel Broadcasting for $2.2 billion. Soon after, it started simulcasting the station’s programming on WVRX 105.9 FM, renaming it WMAL-FM.

It is unknown whether Cumulus will abandon the AM station (10 Kw-Da, 5 Kw-N, DA2) altogether or relocate the transmitters and continue to broadcast.

Last year, Cumulus sold a 10-acre broadcast facility in Los Angeles for $125 million.