© 2019 Billboard. All Rights Reserved.
Billboard is a subsidiary of Valence Media, LLC.
Hot 97 (WQHT) rang the NASDAQ closing bell yesterday to celebrate parent company Emmis Communications' acquisition of WBLS 107.5 and WLIB 1190 AM from YMF Media, reports XXL.
Emmis, Owner of NYC's Hot 97, Buys WBLS, WLIB For $130 Mil, Increases Urban Market Share
On-air personalities Funk Flex and Angie Martinez from Hot 97, WBLS' Lenny Green, Dr. Bob Lee, and Earthquake, and WLIB's Bishop joined Emmis CEO Jeff Smuylan for the ceremony at the NASDAQ MarketSite in Times Square.
In February, Emmis acquired urban adult contemporary station WBLS 107.5 FM and WLIB 1190 AM -- and the city's first station targeted at African-American listeners -- in a $131 million deal the company said would double its annual station operating income, not to mention vastly increase its market share.
Emmis now owns the No. 2 station in the NYC radio market with WBLS, which had 6.8 Nielsen Audio Radio Rating in December of last year; the 13th biggest station WQHT (2.9 rating during the same period); and the 32nd largest station in the city with WLIB's 0.4 share.
In March, VH1 announced a reality show, "This is Hot 97," intended to be a comedic look inside the iconic radio brand. No word yet on whether last night's events will make it into an episode . . .
The Biz premium subscriber content has moved to Billboard.com/business.
To simplify subscriber access, we have temporarily disabled the password requirement.