Chronicle-Telegram Divests WNWV

Closed

In a transaction which was finalized FRIDAY, DECEMBER 16th, WNWV/ELYRIA, OH was sold by ELYRIA-LORAIN BROADCASTING COMPANY to RUBBER CITY RADIO GROUP, INC. of AKRON, for an undisclosed amount.

WNWV, a Full Class B station, operates in the Triple A format on 107.3mHz with 20kw at an antenna height of 781 feet.

ELYRIA-LORAIN BROADCASTING, wholly owned by the CHRONICLE-TELEGRAM of LORAIN, OH, headed by PAUL B. MARTIN, also owns several other radio stations and plans no further divestitures. RUBBER CITY RADIO GROUP, headed by CEO THOMAS MANDEL, also owns WQMX, WONE and WAKR-A in the adjacent AKRON market.

DICK FOREMAN of RICHARD A. FOREMAN ASSOCIATES, INC., initiated the transaction and served as the exclusive broker in the negotiations.

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