Emmis Communications has announced it will sell their Indianapolis radio properties to Radio One for an undisclosed amount. That includes The Fan 93.5/107.5 as well as three other radio stations.
“These are terrific general market formats (Best Variety, Country, News and Sports) and will be a great addition to Urban One in a transaction that is accretive and deleveraging,” said Alfred Liggins, President and CEO, Urban One.
Urban One is the parent company of Radio One.
“Indianapolis is my hometown, and I’m so proud of what we’ve been able to accomplish – we’ve become an invaluable contributor to the Indianapolis community, a leader of radio industry initiative and innovation, and a trusted resource for Central Indiana listeners and businesses,” said Jeff Smulyan, founder and chairman of Emmis. Smulyan helped to launch WFAN, the first all-sports talk radio station in 1987. He is currently out of the sports radio business.
Those stations will join Radio One’s existing Indianapolis offerings which currently consists of five radio stations.
The acquisition is subject to Federal Communications Commission approval and other customary closing conditions, which is anticipated in the third quarter of 2022. Emmis will continue to operate The Fan until the transaction closes.
