On June 13, RBR+TVBR first reported on the sale of Emmis Communications’ last full cluster of radio stations, in its home market of Indianapolis. At the time, it became known that the buyer of those properties, Urban One, would need to divest Urban Contemporary WHHH-FM “Hot 96.3” in Indianapolis.
A deal was consummated just days later, and with a Form 314 filing at the FCC made June 23, the buyer of WHHH can now be disclosed.
It’s BBN — Bible Broadcasting Network. The non-secular radio ministry is picking up the FM for $3.2 million, in a deal that sees Greg Guy of Patrick Communications serve as seller Urban One’s broker of record.
The sale means that “All Hip Hop and R&B” will soon fade away on the Class A, which has a tower atop a residential tower. BBN will assume the lease for the Riley Towers II transmitter site.
A $240,000 deposit has been placed in escrow, under the management of Patrick.
BBN will file a FCC Form 2100, Schedule 302-FM application to change the status of WHHH to non-commercial.
WHHH will join three other facilities BBN operates and/or owns in Indiana.
But, Urban One is keeping the intellectual property, with “Hot” shifting to WNOW-FM 100.9 at closing. The “Radio Now” Top 40 programming and brand presently associated with WNOW is being sold to a yet-to-be disclosed third party.
Finally, the WNOW call letters will be assigned to 96.3 MHz, with WHHH officially moving to 100.9 MHz.
