Last month, we reported that Emmis may be forced to sell one of its trio of New York radio stations in order to stay afloat.
Now comes word from industry newsletter T-R-I saying rock station WRXP (101.9) is on the market.
The report indicates that ‘RXP is for sale at a price tag of $100 million.
In a recent filing with the Securities and Exchange Commission, the Indianapolis-based media company said, “We have one station in New York City…where we believe the sale value could exceed the prospects for cash flow generation as part of our portfolio.”
‘RXP is consistently the lowest rated among the stable of New York Emmis stations. In the September Arbitron ratings, ‘RXP struggled to a 2.2.
Sister stations WRKS (98.7 KISS FM) pulled in a 3.0, while WQHT (Hot 97) registered a 3.3.
Messages for Emmis and WRXP were not returned.