The deal has been filed with the FCC with iHeartMedia agreeing to pay $2 million for the four FMs.
Original Report 8/7: HeartMedia is acquiring Gary Fisher’s Equity Communications four Atlantic City NJ stations for an undisclosed amount.
iHeart will add CHR 95.1 WAYV Atlantic City, Adult R&B 96.1 WTTH Margate City, Rhythmic CHR “99.3 The Buzz” WZBZ Pleasantville, and Classic Rock 100.7 WZXL Wildwood. The deal marks an entry into the Atlantic City market for iHeartMedia.
Equity’s two AM’s Oldies simulcast 1340 WMID Atlantic City and 1230 WCMC Wildwood are not mentioned in the announcement. The company has been divesting its other stations with recently announced sales of WMID simulcaster 93.1 WEZW Wildwood Crest to Educational Media Foundation and WAYV simulcaster 102.3 WAIV Cape May to Mighty Voice Broadcasting LLC.
iHeartMedia, the leading audio company in the U.S., today announced an agreement with Equity Communication to purchase four broadcast radio stations in the Atlantic City, New Jersey market: WAYV 95.1FM in Atlantic City (Hot AC); WZXL 100.7FM in Wildwood (Classic Rock); WZBZ 99.3FM in Pleasantville (CHR); and WTTH 96.1FM in Margate City (Urban AC).
These successful radio stations join and expand upon iHeartMedia’s massive broadcast reach nationwide with over 860 stations in 160+ markets and top personalities and influencers across all genres. The stations will also be available on the iHeartRadio app, iHeartMedia’s all-in-one digital music, on-demand, podcasting and live streaming service with 3 billion app downloads and more than 160 million registered users.
“iHeartMedia is the multiplatform leader in audio built on the power of radio, and this acquisition underscores our commitment to broadcast radio’s continued growth and success as the no. 1 reach medium in the U.S. These stations have a long history of success in South Jersey, and adding them to our roster will allow us to extend the iHeart brand to this market,” said Hartley Adkins, President of Market Groups for iHeartMedia. “We are excited to have the teams at WAYV, WZXL, WTTH and WZBZ join the iHeart family and look forward to collaborating together and continuing their growth trajectory.”
“We’re delighted to convey the Equity stations to iHeart. These are world-class stations with world-class staff, and it’s only fitting they should join the country’s biggest audio company. I’m confident they will continue to flourish & prosper under iHeart’s stewardship,” said Gary Fisher, President and Owner of Equity Communications.
