WTEM Price Tag: $4.2 Million
• Earlier this week Red Zebra Broadcasting announced it was officially getting out of the radio business, as it was revealed that Daniel Snyder‘s radio division was selling off its last remaining radio station, Washington Redskins’ radio flagship WTEM-AM (The Team 980)/Washington to Urban One. According to an SEC filing, we now know that Urban One is paying $4.2 million for the station. As part of the transaction, Urban One has also entered into an agreement to continue carrying Redskins games on The Team 980.
In making the announcement, Radio One CEO Alfred Liggins said, “This is a tremendous opportunity for Urban One, and we are especially pleased that through our acquisition The Team 980 will continue to be locally owned. The acquisition of The Team 980 is very much in line with our strategy of super-serving our community of listeners. We have deep roots in the greater Washington, DC, area and are well aware that The Team 980 has always been a fan favorite. Red Zebra has a track record of producing great programming that engages our hometown sports fans. We look forward to working with the Washington Redskins organization to continue this tradition.”
In addition to WTEM, Redskins’ game day broadcasts — including pregame, in-game and postgame programming — will air on Cumulus News-Talk WMAL-FM & AM/Washington as a valued part of the Redskins Radio Network.
