Nassau Broadcasting Exiting Shore Markets

NJBIZ STAFF//August 9, 2005//

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Princeton’s Nassau Broadcasting Partners Thursday said it is exiting the Monmouth, Ocean and Atlantic City markets with the sale of its last radio stations in those markets. In a press release, the privately owned broadcaster said it is selling WCHR-FM and WOJZ-FM for $40 million to Atlantic City’s Millennium Radio Group. WCHR-FM is a classic rock station licensed in Stafford Township. WOJZ-FM is a light jazz station based in Egg Harbor City. Nassau said the sale of WCHR-FM is immediate, while the closing of the WOJZ-FM deal is subject to approval of the Federal Communications Commission. Nassau sold five other radio stations in the region to Millennium in 2002 for $101 million, with the option for Millennium to acquire WCHR-FM at some point in the future.The sale of WCHR-FM and WOJZ-FM will leave Nassau with a total 30 radio stations, with contracts and agreements to purchase an additional 24.