Salem Sells WRVI/Louisville To WAY-FM
August 13, 2008 at 11:33 AM (PT)
SALEM COMMUNICATIONS has announced the sale of Contemporary Christian WRVI (THE RIVER)/LOUISVILLE to WAY-FM MEDIA GROUP for $3 million. SALEM will hold onto its other three stations in the market, Talk WGTK-A and Religion WFIA-A-F (THE SPIRIT). WAY-FM gets a second signal in the market to add to rimshot Contemporary Christian WAYI/CHARLESTOWN, IN, which it purchased from RADIO ONE earlier this year. WAY-FM will take over WRVI under an LMA on OCTOBER 1st. PATRICK COMMUNICATIONS' GREG GUY represented WAY-FM in the deal.
SALEM Radio Division President JOE D. DAVIS said, "This is a good example of market synergy, allowing us to continue the operation of three strategic assets in LOUISVILLE, and enabling our friends at WAY-FM to improve their service and coverage of the market as well. All this will be accomplished without change of format or interruption of service."
WAY-FM President BOB AUGSBURG added, "We are thrilled at this opportunity to strengthen our position in LOUISVILLE. WAY-FM Media Group purchased WLRX (now WAYI) from RADIO ONE earlier this year serving the northern suburbs of LOUISVILLE. Now with the addition of WRVI in the heart of the city, WAY-FM will be really strong throughout the entire market. This is a real growth season for WAY-FM with a launch in CHARLESTON, SOUTH CAROLINA last month and a new WAY-FM launch in PANAMA CITY, FLORIDA scheduled for next month."