Friday, January 3, 2014

Cumulus Media buys 2 radio stations from Merlin Media

The Chicago Tribune reports that Cumulus Media, owner of news/talk WLS AM 890 and classic hits WLS FM 94.7, is poised to acquire two stations from Merlin Media: classic rock WLUP FM 97.9 and WIQI FM 101.1 (which will revert to modern rock WKQX).

“The addition of WKQX and WLUP will add two legendary radio brands to the two legendary radio brands Cumulus already owns in Chicago,” John Dickey, executive vice president and co-chief operating officer of Cumulus, told Inside Radio. “We are excited to be growing our presence in one of the best media markets in the world.”

Dickey told AllAccess.com there will be no change in the Loop’s format, adding: “We will migrate WKQX from 87.7 to 101.1 next week and return it to alternative, dropping ’90s, 2K & Today.’ We will simulcast it for a month.”

Sale of the two Merlin stations essentially closes another chapter in the saga of Randy Michaels, who launched the company in 2011 after his exit as CEO of Tribune Co.

Terms of the business acquisition agreement with Merlin Media announced Friday were not yet known.

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