Cumulus Buying WKQX/Chicago, WLUP Calls
• Cumulus Media has reached a definitive agreement with Merlin Media to formally acquire Alternative WKQX/Chicago and the iconic WLUP-FM call letters and intellectual property of the former Chicago Classic Rock station for a reported $18 million.
Cumulus had been operating WKQX and WLUP under an LMA with Merlin since December 2013. However, as part of a recent Chapter 11 bankruptcy filing, Cumulus was released from its obligation to buy both stations for approximately $50 million. In early March, Merlin Media sold WLUP to Educational Media Foundation for $21 million and the 97.9 frequency flipped to EMF’s Christian “K-Love” brand, sporting new WCKL calls.
“After operating the station for the past four years, we are delighted to be able to bring this beloved station under Cumulus’ ownership on economic terms that make sense for our business, said Mary Berner, President & CEO of Cumulus Media. “We look forward to continuing to deliver the best alternative rock programming to our devoted listeners in the Chicago area for years to come.”
Marv Nyren, VP/Market Manager of Cumulus Chicago remarked, “I am truly pleased that we have reached an agreement to bring WKQX into the Cumulus Chicago family and fully focus on driving growth in the Chicago market. We have lots of great programming planned for WKQX and our other stations in the Chicago market, and we look forward to growing these legendary stations and providing great content to our listeners and effective marketing strategies for our advertisers in and around Chicago.” Cumulus already owns News-Talk WLS-AM and Classic Hits WLS-FM. Cumulus will continue to program WKQX under an LMA until the closing, which is subject to the usual customary conditions such as regulatory and court approval, occurs.
