INDIANAPOLIS — Indianapolis-based Emmis Communications announced an agreement to sell its Indianapolis radio stations to Maryland-based Urban One, pending Federal Communications Commission approval.
The sale includes stations such as B105 (WYXB 105.7 FM), HANK FM (97.1 FM), The Fan (93.5 FM and 107.5 FM), Network Indiana and the long-running WIBC 93.1 FM, which Emmis bought in 1994 from Horizon Broadcast Group.
According to the company, Emmis Indianapolis Radio Stations has 77 full-time and 50 part-time employees, all based at the Monument Circle headquarters.
“When Emmis launched our first station, WENS now HANK FM, in 1981, I could never have imagined the journey we would take. Indianapolis is my hometown, and I’m so proud of what we’ve been able to accomplish – we have become an invaluable contributor to the Indianapolis community, a leader in radio industry initiative and innovation, and a trusted resource for central Indiana listeners and businesses said Jeff Smulyan, Founder and Chairman of Emmis, in a press release.
Smulyan went on to note in the press release that Urban One has extensive media experience, including a long track record as an Indianapolis radio and television operator, significant resources, and a commitment to local radio.
The sale will not officially close until the transaction receives FCC approval. Emmis said this process could take several months and until then they will continue to own and operate the radio stations.
While Emmis has sold many of its media assets in recent years, the company still operates the Indianapolis Monthly magazine and owns two radio stations in New York.
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