Emmis Communications has announced a major deal to sell its entire Indianapolis cluster to Urban One. Pending FCC approval, Urban One will acquire AC WYXB (B105), Country WLHK (97.1 HANK FM), Sports-Talk 93.5/107.5 The Fan (WIBC-HD2), News-Talk 93.1 WIBC-FM and Network Indiana.
“When Emmis launched our first station, WENS now HANK FM, in 1981, I never could have envisioned the journey we would go on. Indianapolis is my hometown, and I’m so proud of what we’ve been able to accomplish – we’ve become an invaluable contributor to the Indianapolis community, a leader of radio industry initiative and innovation, and a trusted resource for Central Indiana listeners and businesses,” said Emmis Founder/Chairman Jeff Smulyan.
“These are terrific general market formats (Best Variety, Country, News and Sports) and will be a great addition to Urban One in a transaction that is accretive and deleveraging,” said Alfred Liggins, President/CEO, Urban One.
Additionally, Urban One will sell Urban AC WHHH/Indianapolis along with the intellectual property related to CHR WNOW/Indianapolis to a third party.
In the announcement of the transaction, Emmis noted that its Indianapolis radio cluster has 77 full-time and 50 part-time employees, all based in the company’s Monument Circle Headquarters.
