New owners will likely be putting alternative formats on Alternative FMs WFNX and WFEX – they have been sold by Phoenix Media to Clear Channel and Blount – and now we know the price of each deal.
The flagship, WFNX-FM Lynn, is going to Clear Channel, which took advantage of a rare opportunity to increase its holdings in a major media market – rare because in most such markets the radio giant is already operating at the top of the local cap.
WFNX will join a cluster that includes WJMN-FM, WKOX-AM and WXKS AM-FM.
The price: $14.5M cash. The licensee name used by Phoenix as seller is MCC Broadcasting Company Inc.
WFEX-FM Peterborough MA is also considered to be part of the Boston metro, and has been operated as a satellite of WFNX. It is going to Blount Communications Inc. of NH, and is expected to be headed for a new era as a Religious outlet. It will be operated in tandem with WDER-AM Derry NH.
The price: $725K cash. Phoenix is selling it under licensee name FNX Broadcasting of New Hampshire LLC. Stephen M. Mindich is the principal of the seller.