The New York Times will ultimately get $45 million as part of a three-
way deal in New York for Class B classical FM WQXR in the country’s
largest market. From atop the Empire State Building, WQXR’s signal
contour reaches 15,367,000 people, suggesting a station metric of only
$2.93 per-person — a very low number even by recent historical
standards.

Appraiser David Schutz tells Inside Radio, “It’s still a painful pill
to swallow in the new reality.” He believes it puts last year’s two
much-talked about Los Angeles deals into perspective. Radio One sold
urban AC “V-100” KKBT (100.3) to Bonneville for $137.5 million. More
recently Emmis struck a rent-to-own $110 million sale of rhythmic AC
“Movin” KVMN (96.9) to Grupo Radio Centro. With New York’s WQXR going
for just a fraction of that, Schutz says it seems to be a continuation
of the downward trend in major market valuations.

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