WNYC buys WQXR. Here's the press release from WNYC:

Laura Walker, the President and CEO,
and Herb Scannell, Chairman of the Board of Trustees of WNYC AM/FM, the
nation’s largest public radio station, today announced the acquisition
of WQXR and 105.9 FM from The New York Times, enabling New York City’s
only dedicated classical music station to continue to serve New York
City.

As part of the transaction, which was
announced in a joint statement today by the three parties involved,
Univision will pay the Times Company $33.5 million to exchange the FCC
105.9 FM broadcast license and transmitting equipment for the Times
Company’s license, equipment, and signal at 96.3 FM. At the same time,
WNYC will purchase the FCC broadcast license for 105.9 FM, all related
transmitting equipment, and WQXR’s call letters and Web site from the
Times Company for $11.5 million. Through the acquisition, WNYC will
preserve WQXR’s 73 year classical music format, and move it to 105.9 FM.

WNYC
has launched The Campaign to Preserve Classical Music Radio in New York
City, a $15 million campaign co-chaired by renowned classical pianist
Emanuel Ax, along with WNYC Board members Nicki Tanner and Martha
Fleischman. The Campaign will assist with the purchase and ongoing
operation of the station. The Jerome L. Greene Foundation, the
Campaign’s lead donor, has agreed to a $5 million challenge grant,
based on 1-to-1 pledges from other individuals, foundations and
corporations. The Jerome L. Greene Foundation previously set a
philanthropic record for the largest single gift to a public radio
station of $6 million, which was recognized in the naming of The Jerome
L. Greene Performance Space — the station’s recently-opened
street-level broadcast studio and performance venue. Additional
contributions totaling close to $2 million have been pledged by members
of the WNYC Board of Trustees including a generous commitment of $1
million toward the Foundation’s match offered by Bernard and Anne
Spitzer.

“As one of the world’s leading and most
dynamic musical cities, New York deserves its own dedicated classical
music station,” said Laura Walker, President and Chief Executive
Officer of WNYC. “For generations, WQXR has made classical music
available free to millions, and has infused the concert hall experience
into the daily lives of New Yorkers. We are delighted to continue this
tradition and to extend WNYC’s own 85-year commitment to classical
music and the arts. We look forward to building a powerful and vibrant
classical music experience for millions of people on the radio, on the
internet and in our new performance space. ”

“Seven years ago, I was one of the voices calling for WNYC to preserve
as much classical music as possible on its air,” said Emanuel Ax.
“Today, I am happy to stand with WNYC as it carries off the sonic
equivalent of saving Carnegie Hall from the wrecker’s ball by
preserving WQXR as our sole all-classical music station. I know that
all of my colleagues will rejoice in this wonderful and meaningful use
of the airwaves, and I urge all of New York to embrace and support
WNYC’s leap of faith.”

“The Jerome L. Greene
Foundation is proud to support WNYC’s bold undertaking to preserve WQXR
as a world-class classical music station,” said Dawn Greene, Mr.
Greene’s widow and the President and CEO of the Jerome L. Greene
Foundation. “Our foundation believes in supporting organizations that
make significant contributions to the cultural and educational life of
our City, and WQXR is unmatched in its ability to make classical music
accessible to so many New Yorkers. Ensuring its continuation for
generations to come would delight my late husband, who was so dedicated
to supporting so many cultural and educational programs that made great
music possible.”

As a part of the WNYC family,
WQXR will be transformed into a public radio station. In contrast to
the current WQXR commercial model, with its total reliance on
advertising, the public radio model provides for a mix of funding
through contributions from members and other individual donors, private
foundations, city, state and federal entities and grants, and corporate
underwriting. This will allow WQXR to remain a key connector between
arts and cultural organizations and their audiences.

WNYC intends to continue two of WQXR’s most listened to live
programs – Saturday Afternoon at the Opera and The Philharmonic This
Week – on WQXR.

WQXR will begin airing on 105.9 FM in October. It will operate out of
WNYC’s new facilities on Varick Street in Hudson Square and the signal
will continue to broadcast from the Empire State Building.

Zarin Mehta, President and Executive Director of the New York
Philharmonic said, “This is great news for classical music lovers, as
well as all those who support the arts and culture in the City. WQXR
has always been more than a classical music station – it is a
destination on the radio dial where you can hear about a variety of
cultural events throughout the City. WNYC is already an established and
vital presence in the cultural life of New York City and is the ideal
steward for this cultural icon.”