UPDATE, 1:40 p.m. THURSDAY: All Access reports that Emmis is paying $335,000 for the two stations. That amount wasn't made public when the deal was announced Wednesday, but was revealed in the FCC filings.
PREVIOUSLY: The last of Crossroads Investments' radio stations in the Terre Haute market have found a buyer.
PREVIOUSLY: The last of Crossroads Investments' radio stations in the Terre Haute market have found a buyer.
Indianapolis-based Emmis Communications, which owns WTHI-99.9 FM (HI-99) and WWVR-105.5 FM (105.5 The River), announced this morning that it's buying Crossroads' ESPN Radio-affiliated stations WSDX-1130 AM and WSDM-92.7 FM, which are both licensed to Brazil, Ind.
Financial terms of the deal were not disclosed.
Until the FCC approves the purchase, Emmis will operate both stations under a local marketing agreement beginning Sept. 1.
"We are excited to add the ESPN brand to the Emmis-Terre Haute cluster of stations," said James Conner, Emmis Vice President/Terre Haute General Manager. "We will continue to serve the listeners of Terre Haute, Brazil and the surrounding communities with quality programming and our continued commitment to community service."
Crossroads has been slowly divesting itself of its radio properties over the past few months. The company sold what is now WDWQ-102.7 FM and WBOW-1300 AM to Wisconsin-based Midwest Communications (a sale which was approved by the FCC last week), and is in the process of selling Rockville, Ind. station WAXI-104.9 FM to Washington, Ind.-based DLC Media, which is owned by Indiana's Democratic 8th District Congressional candidate, Dave Crooks.
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