Inside Radio's alert a few moments ago..."Alert: Emmis Partners With Randy Michaels. After announcing it was seeking to sell rock WRXP, New York (101.9) and its two Chicago FMs, Emmis Communications has instead found a partner in former Jacor and Clear Channel executive Randy Michaels and the private equity firm GTCR. Their newly-formed Merlin Media has struck a deal to buy a majority stake in WRXP and Emmis’ Chicago FMs: modern rock “Q-101” WKQX and classic rock “The Loop” WLUP-FM (97.9). Emmis will still own a significant minority stake."
I'm hearing that John Gehron is a part of this new company too. He has worked with Randy Michaels before (at Clear Channel).Memo to the young female staffers at the Loop/Q-101: If Mr. Michaels puts his arms out like Jesus on the cross and offers you a chance to "put a little extra money in your paycheck," run like the wind.
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