Two days after flipping CHR WNOU to All-Christmas in preparation for the move of WIBC from AM to FM in January, Emmis Broadcasting has sold the intellectual property for the “Radio Now” CHR format to Radio-One. RadioNow’s website says the format is now available on 100.9. That’s the former “Smooth Jazz 100.9” WYJZ.

At 4:30pm, WYJZ signed off with Jeff Lorber’s “Anthem For A New America”. Following a half-hour of looping a sweeper “Radio Now, NOW at 100.9”, the station segued into Akon’s “Bartender”.

The Press Release follows below:

Indianapolis, Ind. — Emmis Communications (NASDAQ: EMMS) has sold the intellectual property of RadioNow (WNOU-FM) to Radio One, Inc. The intellectual property sold includes the RadioNow brand, WNOU trademark, and all station imaging. No purchase price was disclosed.

Beginning after 3:30 p.m. (Eastern) today, Radio One will broadcast RadioNow in Indianapolis on 100.9 FM.

RadioNow was previously the contemporary-hit-radio format of Emmis station 93.1 FM. RadioNow has been off the air since Monday, when Emmis announced its plans to migrate WIBC-AM news and talk programming to the 93.1 FM frequency beginning in January 2008.

“The decision to take RadioNow off the air was a difficult one,” said Tom Severino, vice president and market manager of Emmis Communications’ Indianapolis radio properties. “It has been a vibrant, successful format, which is why we’re so pleased with this agreement with Radio One. It benefits both companies, and it especially benefits the loyal listeners of RadioNow. We consider this the best-possible ending to this story.”

“We are returning RadioNow to Indianapolis listeners, and we intend to preserve the music and spirit that has made it one of the most-listened-to stations in the market,” said Barry Mayo, radio president of Radio One. “This is a particularly satisfying announcement in view of the wonderful history of friendship and cooperation between Radio One and Emmis.” Before joining Radio One in 2006, Mayo served as senior vice president and market manager of Emmis’ New York radio properties.

In January 2001, the companies formed the Emmis Communications/Radio One Community Fund, a $1 million endowment that supports non-profit organizations that improve the quality of life for the Central Indiana minority community.

Emmis Communications – Great Media, Great People, Great Service®
Emmis is an Indianapolis-based diversified media firm with radio broadcasting and magazine publishing operations. Emmis owns 21 FM and two AM domestic radio stations serving the nation’s largest markets of New York, Los Angeles and Chicago, as well as St. Louis, Austin, Indianapolis and Terre Haute, Ind. In May 2005, Emmis announced its intent to seek strategic alternatives for its 16 television stations, and has since sold 15 of them. Emmis also owns a radio network, international radio stations, an interactive business and ancillary businesses in broadcast sales. Emmis Indianapolis radio properties include WIBC-AM, WIBC-FM, WYXB-FM, WLKH-FM and Network Indiana.

Radio One, Inc.
Radio One, Inc. (www.radio-one.com) is the nation’s seventh largest radio broadcasting company (based on 2006 net broadcast revenue) and the largest radio broadcasting company that primarily targets African-American and urban listeners. Pro forma for recently announced transactions, Radio One owns and/or operates 55 radio stations located in 18 urban markets in the United States. Additionally, Radio One owns Magazine One, Inc. (d/b/a Giant Magazine) (www.giantmag.com), interests in TV One, LLC (www.tvoneonline.com), a cable/satellite network programming primarily to African-Americans and Reach Media, Inc. (www.blackamericaweb.com), owner of the Tom Joyner Morning Show and other businesses associated with Tom Joyner. Radio One also operates the only nationwide African-American news/talk network on free radio and programs “XM 169 The POWER,” an African-American news/talk channel, on XM Satellite Radio. In addition to RadioNow on 100.9 WYJZ-FM, Radio One’s Indianapolis properties include WHHH-FM, WTLC-FM, WTLC-AM and the local television station WDNI.

Source: Emmis Communications