P.M. Briefing : Merv Gets FCC OK to Buy 4 Stations
Merv Griffin has received approval from federal regulators to acquire four radio stations owned by Federal Communications Inc., it was announced today in Los Angeles.
The four stations are WHJY-FM and WHJJ-AM of Providence, R.I., and WVEZ-AM and WVEZ-FM in Louisville, Ky. Michael Nigris Jr., president of The Griffin Group, said the stations were acquired for $34 million.
Since The Griffin Group’s focus is in larger markets, it has contracted immediately to resell the Louisville stations for $6.5 million, Nigris said. Nigris said the acquisition was another step in The Griffin Group’s plans to build a major broadcast group.