Tag: $12.5 million

According to a report by Andrew Marchand at the New York Post, Good Karma Brands – which is currently leasing WEPN-FM, New York from Emmis Communications for its “ESPN New York sports radio brand – will not continue the lease after it expires on August 31, 2024. Good Karma owns WEPN-AM, New York and company chief Craig Karmazin tells the Post, “We’re committed to serving the New York sports fan and with the combination of our AM signal, the ESPN New York app, podcasts, smart speakers, YES and other additional audio and video distribution, investing in an FM signal was not relevant in the way it was a decade ago.” The piece states the lease price for the signal is “in the $12.5 million per year range.” It also reports that sources indicate Emmis is seeking roughly $50 million in a purchase deal. Read the Post piece here.