University Of Pennsylvania Buys WNTI/Hackettstown, NJ To Simulcast WXPN/Philadelphia
October 12, 2015 at 7:22 AM (PT)
The buyer for CENTENARY COLLEGE noncommercial Eclectic WNTI/HACKETTSTOWN, NJ has been revealed, and it's the UNIVERSITY OF PENNSYLVANIA, which will simulcast its Triple A WXPN/PHILADELPHIA on the NORTH JERSEY signal under a "Public Service Operating Agreement" starting on THURSDAY (10/15) at noon (ET). PENN is paying $1.25 million in cash and $500,000 in underwriting value over 10 years for WNTI. WNTI's local programming will continue online.
"We are pleased to reach this agreement with WXPN, which preserves a strong voice for great music in our region and opens new horizons for the WNTI community and for CENTENARY COLLEGE," said CENTENARY Pres. Dr. BARBARA-JAYNE LEWTHWAITE. "WXPN brings exceptional resources and expertise in public radio and a deep commitment to serving the needs of listeners and supporting local artists. CENTENARY will continue to operate its own Internet radio station at WNTI.org to enhance our curriculum and involve students and community volunteers in programming. CENTENARY students will be afforded opportunities to intern at WXPN at the UNIVERSITY OF PENNSYLVANIA. We intend to reinvest the proceeds from the license sale in building CENTENARY's academic offerings, to support student recruitment and retention, and fuel v's role as an economic engine in WARREN COUNTY, NEW JERSEY."
WXPN GM ROGER LEMAY said, "WXPN was approached with notification of the proposed sale of WNTI. Although we were not looking to purchase another radio station, we quickly realized that WXPN was the best option to preserve WNTI's long tradition of musical discovery for listeners in NORTHERN NEW JERSEY and NORTHEASTERN PENNSYLVANIA. We will extend WXPN's demonstrated commitment to local artists, music and events in the communities we currently serve to the WNTI community, and will apply our deep experience in public music radio management to strengthen its overall operations. In the long term, we expect this transaction to benefit our artists and audiences, and strengthen WXPN's financial sustainability."
CENTENARY was represented by PATRICK COMMUNICATIONS in the deal; PENN was represented by PUBLIC MEDIA COMPANY.