Wednesday, July 15, 2009

Times Co. Agrees to Sell WQXR Radio

The New York Times Company will sell WQXR-FM to WNYC Radio and Univision, the companies announced on Tuesday, in a complex deal that preserves WQXR as the only station devoted solely to classical music in New York City, but that could alter its character.

WQXR would move to a weaker signal near the high end of the FM band, and would become a listener-supported station, owned by WNYC, the nation’s largest public radio station. The Times Company, which has been trying to shed assets to raise cash and weather a newspaper industry downturn, would get $45 million, but would sever ties with a station it has owned since 1944.

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