Univision Communications

The New York Times Gets Out of the Radio Business, Collects $45 Million

Peter Kafka in Media on July 14, 2009 at 11:34 am PT

The New York Times is getting out of the radio business. Did you know the New York Times was in the radio business? Exactly. Anyway, now it’s not. The cash-strapped publisher has sold WQXR-FM for $45 million, carving up the asset into two packages for different buyers–local NPR affiliate WNYC and Spanish-language broadcaster Univision Radio. The money will go to paying down the paper’s debt: Not much, but more than the company may get for the Boston Globe.