Public Radio Acquires WEEI 103.7 RI, Plans Content Revamp
Audacy has sold its Rhode Island sports radio station, WEEI 103.7, to Ocean State Media, the organization behind the Public’s Radio. The acquisition is valued at $4.9 million and will end over 20 years of sports broadcasting in the Providence market.
Details of the Acquisition
Ocean State Media, a not-for-profit entity, will acquire WEEI’s frequency and transmitter but will not take on any sports programming. This strategic move aims to streamline the company’s operations, currently complicated by a five-station network struggling with inefficiencies.
Financial Context
- Sale price: $4.9 million
- Ocean State Media’s assets: over $115 million
- Audacy filed for bankruptcy protection in January 2024
Impact on Local Broadcasting
This transition is significant for local sports fans as it marks the end of an era for WEEI in Rhode Island. Audacy has faced considerable financial challenges, leading to the closure of its Rhode Island office in 2023 and subsequent bankruptcy filing.
Future of Ocean State Media
Pam Johnston, President and CEO of Ocean State Media, emphasized the benefits of this acquisition, stating it will enhance the listening experience for audiences traveling across Rhode Island and southeastern Massachusetts. With the new frequency, listeners will have access to clearer, more localized broadcasts.
Johnston has also made tough decisions during her leadership, including staff cuts, to address the company’s financial issues. The transaction is still pending approval from the Federal Communications Commission (FCC).
The acquisition signifies not only a change in programming but also a renewed focus on local news and information, aiming to serve the community more effectively than before.
