Regent to Spin Evansville's WYNG

Regent to Spin Evansville's WYNG
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Regent Communications has agreed to sell WYNG(FM), serving the Evansville, Ind. market to W. Russell Withers Jr. for $1.5 million in cash.
Regent President/CEO Bill Stakelin said Regent would use the proceeds to reinforce its position as a consolidator of medium- and small-sized markets.
At closing, expected in the fourth quarter, Regent will own and operate five stations in Evansville, bringing its total to 63 stations in 13 markets.
John Pierce & Company LLC brokered the deal.