Cumulus Media Snags Third in NYC
Cumulus Media plans to acquire WFME(FM) in New York City. The station on 94.7 MHz which is licensed to Newark, N.J. currently has a religious format.
The pure-play radio group has signed an agreement to buy its third station in the nation’s largest radio market from Family Stations. Terms and a price were not disclosed.
Cumulus owns 525 stations overall. In New York City, it owns talker WABC(AM) and Hot AC WPLJ(FM).
WFME will be the broadcaster’s second FM in the New York City market. Cumulus CEO Lew Dickey calls the WFME acquisition “strategic.” The acquisition, he said, “will enable us to provide compelling new programming for our listeners and a powerful marketing vehicle for our advertising partners.”
Both parties expect the deal to close in the fourth quarter; that’s also when Cumulus expects to announce its format plans for the station.