Word is one FM in Chicago and New York will go News-Talk!
The buyer? Merlin Media, a group led by former Tribune, Clear Channel and Jacor executive Randy Michaels, in partnership with Chicago-based private equity firm GTCR. Emmis will retain a "significant minority interest" in Merlin. GTCR's Philip Canfield says "we are extremely excited about the opportunity to partner with Emmis and Randy." Merlin will begin an LMA of Chicago's classic rock "Loop" WLUP (97.9) and modern rock "Q101" WKQX, plus New York's rock WRXP in the next 45 days, ahead of the closing. No price announced on the stations that Emmis has been shopping since last year. More now at Radio-Info.com.