The local cap report filed with the contract for the sale of WFSI-FM Annapolis MD from Family Stations to CBS Radio focuses on the Baltimore market, but the implications of the deal are firmly aimed at neighboring Washington DC. Oh, and we now know what the price tag was.
The station will bring in $8.5M cash – a figure which looks like a decent amount of money now, but would have been laughably small, even for a stick, back in the late 1990s. CBS will either pay the full amount to Family Stations, or at the seller’s discretion and direction, to lending firm Durden Enterprises II.
The ownership cap implications affect two markets. In Baltimore, CBS has no less than three WJZ facilities – an AM, an FM and a TV, along with WLIF-FM and WWMX-FM.
The WFSI target market of Washington DC is populated by several CBS radio statins, including WHFS-AM Annapolis MD, WLZL-FM Bowie MD, WIAD-FM Bethesda MD, WPGC-FM Morningside MD and WJFK-FM Manassas VA.
The WLZL format will be moving to the 107.9 MHz dial position, and CBS’s to-be-unveiled News station will go to 99.1 MHz.
