Details of the Cumulus/Family New York deal


$42.5M WFME-FM New York NY (Newark NJ) from Family Stations Inc. (Harold Camping) to Radio License Holding X LLC, a subsidiary of Cumulus Broadcasting LLC (Lewis W. Dickey Jr. et al). $40K cash plus swap of WDVY-FM Stamford-Norwalk CT (Mount Kisco NY). WDVY hypothetically priced at $2.5M in contract; Cumulus will pay extra $8.5M if it can move WFME into one of the five NYC burroughs as a Class A or B1, and an extra $10M is it can move it as better than a B1. If Family is able to resell station and Cumulus gets upgrade, upgrade payment will be reduced by $1M. Duopoly with WABC-AM, WPLJ-FM. Cumulus has numerous stations on the outskirts of NYC. [FCC file date 10/22/12]