NYC Radio: Emmis Wants To Sell 98.7 FM, ESPN Gets The Boot

ESPN New York will relinquish its 98.7 FM signal on Aug. 31, 2024, and focus on its digital distribution and 1050 AM for its top programming, including “The Michael Kay Show” and the Jets, Knicks and Rangers games.

WEPN 98.7 FM (6 Kw)

The NY Post reports the decision by Good Karma Brands, which controls ESPN New York, is a reflection of the changing business that has devalued the need for an expensive FM signal.

It will leave WFAN, with its signals on 101.9 FM and 660 AM, with a clear advantage for what became a marquee ratings fight that in its heyday featured FAN’s Mike Francesa versus Kay.

“We’re committed to serving the New York sports fan and with the combination of our AM signal, the ESPN New York App, podcasts, smart speakers, YES and other additional audio and video distribution, investing in an FM signal was not relevant in the way it was a decade ago,” Good Karma Brands CEO and founder Craig Karmazin told The Post.

WEPN 1050 AM (50k-DA)

The decision was Good Karma Brands’ to make and is unrelated to ESPN’s recent cutbacks.

ESPN, the mother ship, originally signed a lease with Emmis Broadcasting for 98.7 a little more than a decade ago.

ESPN paid more than $10 million per year, according to sources.

At that time, ESPN was only on 1050 AM, which was the original signal for WFAN, created and owned by Emmis Broadcasting’s Jeff Smulyan.

The lease rate is currently in the $12.5 million per year range and Emmis is looking for an offer in the $50 million range, according to sources.