Under the terms of the deal, Univision Radio will pay the Times Co. $33.5 million to exchange the FCC 105.9 FM broadcast license and transmitting equipment for the Times Co.'s license, equipment and stronger signal at 96.3 FM.
At the same time, WNYC Radio will purchase the FCC license for 105.9 FM, all related transmitting equipment and WQXR's call letters and Web site from the Times Co. for $11.5 million. Univision Radio will retain the WCAA call letters.
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Following the transaction, Univision Radio will transition WCAA 105.9 FM to 96.3 FM, providing the Spanish-language operator with expanded coverage and enhancing its service to the growing New York Hispanic demographic. WNYC will operate WQXR-FM on 105.9 FM and continue to serve the vast majority of its current audience as a listener-supported public station dedicated to classical music.
The transaction is expected to close in the second half of the year after FCC approval has been granted.