Times Co. To Sell NY Classical Radio Station WXQR

The debt-ridden New York Times Co. Tuesday announced a deal to sell New York radio station WQXR-RM for $45 million to help raise much-needed cash. The Times Co. said the agreement with subsidiaries of Univision Radio Inc. and with WNYC Radio would enable WQXR-FM to continue its 73-year legacy of providing classical music and other cultural programming to listeners in the New York metropolitan area. Univision Radio is a division of Univision Communications Inc., the leading Spanish language media company in the United States. WNYC is the nation's largest AM/FM public radio station.

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.

advertisement

advertisement

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.

Next story loading loading..