Contemporary radio station WRQX, known as Mix 107.3, will be sold to a Christian radio media organization as part of a larger $103.5 million cash deal involving multiple stations.
Cumulus Media Inc. agreed sell WRQX to Educational Media Foundation along with five other FM stations — WYAY (Atlanta), WPLJ (New York) KFFG (San Francisco), WZAT (Savannah, Georgia) and WXTL (Syracuse, New York). The Atlanta-based Cumulus also entered an agreement with Entercom Communications Corp. to swap three stations each.
EMF will acquire all transmission equipment and assume all tower leases associated with the stations, according to a press release. WRQX, located at 4400 Jenifer St. NW, brought in $5.13 million of revenue in 2017.
Education Media Foundation is a Rocklin, California-based noncommercial radio network whose 800 Christian radio stations operate under the names K-LOVE and Air1 radio networks. The company has revenue of $175 million annually, with $170 million of that in donations.…Read the full story from the Washington Business Journal.