INDIANAPOLIS — Indianapolis-based Emmis Communications has entered an agreement to sell its Indianapolis radio stations to Maryland-based Urban One Radio.
The company announced the sale on Monday. The sale includes B105 (WYXB 105.7FM), HANK FM (97.1FM), The Fan (93.5FM and 107.5FM), WIBC (93.1FM) and Network Indiana.
“When Emmis launched our first station, WENS now HANK FM, in 1981, I never could have envisioned the journey we would go on," founder and chairman Jeff Smulyan said. "Indianapolis is my hometown, and I’m so proud of what we’ve been able to accomplish – we’ve become an invaluable contributor to the Indianapolis community, a leader of radio industry initiative and innovation, and a trusted resource for Central Indiana listeners and businesses."
Emmis Indianapolis Radio has 77 full-time and 50 part-time employees, all based in the company’s Monument Circle Headquarters.
The sale must go through FCC approval, which could take months.
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