4-26-2012
The speculation ended yesterday as ESPN made the announcement that the coveted FM dial position sought after for so long by the sports leader would come from Emmis Communications. This deal seems to work out well for both sides. Emmis can use the cash, and ESPN, which launched on 1050 AM in 2001 is positioned better to compete with the New York leader in sports WFAN. While ESPN certainly pioneered sports on television, WFAN started the sports on radio format during the days Imus was still doing mornings at the station. Emmis will receive $8.4 million from Disney for the first year of the LMA. That will rise 3.5 percent each year until the agreement runs out on August 31, 2024. ESPN Senior Vice President/Production, Business Divisions Traug Keller says Thursday was a great day. "A New York FM is beachfront property that doesn't come up too often."
READ OUR RECENT COVER STORY ON TRAUG KELLER HERE
Keller said, "I've been working off and on with Jeff Smulyan for years on this and we also have a company who believes enough in radio to make this kind of investment. It was just a terrific day all around for us, for our
listeners, our fans and a wider swath of New York because now we are also going to be able to serve the Hispanic sports fan." Emmis CEO Jeff Smulyan told Radio Ink last night, "We are very pleased with this agreement. While it is very, very difficult to part with WRKS, it was the right decision for our company. Traug and I are good friends and he is absolutely terrific to deal with."
WBLS AND KISS TO MERGE AS A RESULT OF THE ESPN DEAL
The move from 1050-AM to 98.7-FM was a deal worked out over time between Keller and Emmis Communications CEO Jeff Smulyan. It also opened up an opportunity for ESPN's spanish-language sports
network ESPN Deportes which will take the AM slot later this year. 10% of the Hispanic population resides in New York City and Keller sees this as a huge opportunity for ESPN Deportes which will launch in New York during Hispanic Heritage month (September 15th - October 15th). Keller says that was a big win for the company. "You'll see us get involved in some local play-by-play here in New York. I'm very excited and very bullish about the Hispanic side of our business. One half of my body lives in that space every day. The Hispanic sports fan is a rabid sports fan. To have a 24/7 talk station in Spanish language in NY is going to be tremendous."
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