New owners will likely be putting alternative formats on Alternative FMs WFNX and WFEX – they have been sold by Phoenix Media to Clear Channel and Blount – and now we know the price of each deal.
The flagship, WFNX-FM Lynn, is going to Clear Channel, which took advantage of a rare opportunity to increase its holdings in a major media market – rare because in most such markets the radio giant is already operating at the top of the local cap.
WFNX will join a cluster that includes WJMN-FM, WKOX-AM and WXKS AM-FM.
The price: $14.5M cash. The licensee name used by Phoenix as seller is MCC Broadcasting Company Inc.
WFEX-FM Peterborough MA is also considered to be part of the Boston metro, and has been operated as a satellite of WFNX. It is going to Blount Communications Inc. of NH, and is expected to be headed for a new era as a Religious outlet. It will be operated in tandem with WDER-AM Derry NH.
The price: $725K cash. Phoenix is selling it under licensee name FNX Broadcasting of New Hampshire LLC. Stephen M. Mindich is the principal of the seller.
What do you make of the widely varying prices?
Comments are closed.