Mega Media Group has signed a multi-year air lease agreement for the WDCN-LP 87.7 frequency with Signal Above, LLC (currently Spanish Religious). Revenue will be shared between the parties with certain minimum lease fees paid by Mega Media Group, Inc. Pulse87 (Dance/Rhythmic CHR) will start broadcasting on WDCN in Q2.
Commenting on the announcement, Alex Shvarts, CEO, stated, “This is another milestone for the growth and expansion of our Pulse87 brand. Washington, D.C. is the #9 radio market with annual billings in 2008 of $310 million. The diversity of the Washington, D.C. Market will work well for our unique lifestyle music format. We will continue to implement our business plan expansion by signing these revenue sharing agreements. These agreements allow us to enter markets without the upfront capital burden of purchasing frequencies. This strategy allows us to operate at a much lower cost of entry and achieve quicker returns to our bottom line. We continue in talks with other markets for similar opportunities.”