No numbers disclosed in ABC-Chancellor deal
NEW YORK — ABC Radio announced plans Thursday to acquire Chicago radio station WMVP-AM and to turn it into the flagship station for its ESPN Radio Network.
Neither ABC nor seller Chancellor Media Corp. would disclose the price for the station, which will be renamed ESPN Radio 1000.
Although Chancellor is normally a station buyer, a company spokesperson said the radio consolidator was constantly “fine-tuning its portfolio.”
He added that WMVP’s all-sports format was not necessary for the synergies achieved from the “full complement of radio stations” Chancellor continues to own in Chicago.
Whatever the reason, the sale was said not to have been motivated by antitrust concerns.
ABC Radio, a division of Walt Disney-owned ABC Inc., is the country’s largest radio network, with an estimated weekly audience of 140 million. Its 6-year-old ESPN Radio is already carried on more than 450 stations.