The four Richmond radio stations owned by Cox Media Group, including two of the top 10 in the market, are being sold to SummitMedia, the owners announced Tuesday.
The stations include country WKHK-FM K-95 -- the second highest-rated station next to R&B and soul leader WKJS-FM 105.7, known as KISS-FM. The other stations getting new owners are classic rock station WKLR-FM 96.5, ranked 10th in the market, along with WHTI-FM Hot 100.9 and WURV-FM 103.7 “The River.”
Those market rankings are based on Arbitron’s most recent topline ratings, released Jan. 4. They’re an estimate of the number of people ages 12 and older listening during an average quarter-hour between 6 a.m. and midnight.
Cox Media Group announced last summer that it was putting the stations up for sale along with others across the country as part of a realignment “to focus on larger markets, cross-media collaboration, and heightened impact in fewer markets.”
The Richmond stations are among those in five markets going to SummitMedia, which is owned in part by a former Cox executive. The industry website Inside Radio reports that the ownership group is “led by former Heftel Broadcasting executive Carl Parmer and 16-year Cox Birmingham market manager David DuBose.”
“These are all important brands powered by talented media professionals who tirelessly serve their audiences, advertisers and communities,” Cox Media Group President Doug Franklin says in a release.
The sale of the stations is expected to close in the second quarter, following regulatory approvals.