On June 1, RBR+TVBR first reported on the proposed sale of WTMD-FM 89.7 in Towson, Md., an eclectic Adult Alternative noncommercial operation within the Baltimore market, to Your Public Radio Corporation.
On November 10, “Public Radio Music Day” across the U.S., the transaction closed.
As such, WTMD is now a sibling of WYPR-FM 88.1, which has grown significantly in recent years to carve an audience of its own without needing to compete against American University’s WAMU-FM 88.5 in Washington, D.C.
Greg Guy of Patrick Communications served as the seller’s broker, representing Towson University. It was a $3 million acquisition that sees Towson provided with $50,000 worth of underwriting promotional credits, which begin now.
Some $300,000 toward the total purchase price will be represented by a Promissory Note.
Serving as Towson’s legal counsel is Sally Buckman of Lerman Senter.
