34

[The Washington Post, Tuesday, June 30, 1987 p. D7 Tearsheet]

On the Dial

WKYS, WASH Up for Sale

By Jeffrey Yorke
Washington Post Staff Writer

NBC-owned WKYS-FM (93.9) and
Metropolitan's WASH-FM (97.1)
Thursday joined Metroplex-owned
WCXR-FM (105.9) and sister-station
WCPT-AM (730) in the for-sale category.
Metroplex partners announced earlier this
month that they would look at offers beginning
at $20 million for classic rock WCXR and
satellite-fed soul oldies WCPT.

Although NBC officials refused to reveal an
asking price, observers estimate the value of
urban contemporary WKYS at $45 million to
$50 million. Recently, NBC had indicated it
would try to keep its stations and its radio
news network, but last week's change of
heart -- which also included selling Chicago
powerhouse WMAQ-AM and San Francisco
Giants' flagship KNBR-AM -- is "for a variety
of strategic reasons," NBC Radio President
Randy Bongarten said yesterday.

In a letter sent to all NBC radio employes,
Bongarten said the network also plans "to
pursue a station acquisition program while we
position our radio stations to operate as competitively
as possible." NBC will develop a "buy
some, sell some" program while "reconfiguring
our station portfolio." Bongarten said NBC's
radio news network is still seen "as viable and
attractive."

One NBC insider summed up the letter: "It
says we're staying in the radio business."

Yesterday, Bongarten said the announcement
was "the result of a relatively long and
detailed planning process, which began when
GE bought RCA (which owns NBC) a year and
a half ago."

Metropolitan, formed last fall following a
leveraged buyout of nine radio stations and the
Texas State Network by Metromedia management,
will sell WIP-AM, once a Philadelphia
mainstay, as well as WASH in order to
"strengthen its financial situation," according
to WASH-FM General Manager Tom Durney.

"WIP" is a struggling AM, but WASH can
command big bucks," said Durney, who
estimated the price tag for "Easy 97" at $25
million to $30 million and guessed that Metropolitan
has received 14 or 15 offers already.