FOR IMMEDIATE RELEASE
CMG to Sell WCTZ “The Coast” to Educational Media Foundation
Friday, November 5, 2010
MILFORD – Nov. 5, 2010 – Cox Media Group (CMG) Connecticut announced today it has reached a definitive agreement to sell WCTZ-FM 96.7 The Coast to Educational Media Foundation (EMF). The transaction is subject to receipt of regulatory approvals and is expected to close during the first quarter of next year.
“CMG greatly values the tremendous contributions that the employees of 96.7 The Coast have made to our company and the service they’ve given our valued customers in the Stamford/Norwalk market,” said Kim Guthrie, CMG’s Group Vice President. “96.7 The Coast will remain on the air and will continue in its current format until the sale is complete, and CMG will still offer listeners and advertisers great news, entertainment, advertising and marketing solutions through our other popular Norwalk stations of WFOX-FM 95.9 The Fox, WSTC-AM 1400 and WNLK-AM 1350.”
Educational Media Foundation features contemporary Christian music programming on a listener-supported basis through its national K-LOVE and Air 1 Radio Networks, including Northeastern stations in New Bedford, Albany, Rochester, Utica-Rome, Bangor, Cherry Hill, and Westerly. EMF President Mike Novak said, “We are excited about this opportunity and are looking forward to bringing contemporary Christian music programming to Southern Connecticut as well as portions of Long Island and the New York City area.”
American Media Services, LLC provided engineering and brokerage services to CMG in connection with the transaction.
About Cox Media Group
Cox Media Group, Inc., a subsidiary of Atlanta-based Cox Enterprises, is an integrated broadcasting, publishing and digital media company that includes the national advertising rep firms of Cox Reps. With $1.8 billion in revenues, the company operations include 15 broadcast television stations and one local cable channel, 86 radio stations, four metro newspapers and more than a dozen non-daily publications, and more than 100 digital services. Additionally, CMG owns and operates Valpak, one of the leading direct marketing companies in North America. For more information about Cox Media Group, please check us out online at www.coxmediagroup.com.
About American Media Services, LLC
American Media Services, LLC is a full service developmental engineering and brokerage firm whose developmental division leads the country in successfully implementing station upgrades by moving them to serve more people, dramatically increasing their value. Since its founding in 1997, AMS has enabled increases in value to stations of more than $300 million. AMS is headquartered in Charleston, SC.
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