Deal Snapshot
URBAN ONE TO SELL ASSETS OF WPZR-FM RADIO STATION IN DETROIT
Thursday 03 May 2018

US-based media company Urban One, Inc. (NASDAQ: UONEK) has signed a definitive agreement to sell the assets of one of its Detroit, Michigan, radio stations, WPZR-FM (102.7 FM), to Educational Media Foundation, of California, for total consideration of USD 12.7m, the company said.
As part of the deal, Urban One will receive 3 FM translators that service the Detroit metropolitan area, and these signals will be combined with its existing FM translator to multicast the Detroit Praise Network. The closing on the sale of WPZR-FM is subject to customary conditions, prorations and adjustments, including approval from the Federal Communications Commission.


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Details
Date Published: 03/05/2018
Target: WPZR-FM,  (102.7 FM)
Country: USA
Deal Size: 12.7m (USD)
Sector: Media
Type: Divestment
Financing: Cash
Status: Agreed
Vendor: Urban One, Inc
Buyer: Educational Media Foundation, of,  California
Comment:
Terms of the deal were not disclosed

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