Radio One Acquires Two Stations from Red Zebra

Radio One has acquired Red Zebra Broadcastings’ WWXT-FM and WXGI-AM.  According to a release, while Red Zebra, a sports marketing company, moves toward a more digital delivery system, Radio One, the largest urban radio broadcaster in the country expands its Washington, DC, market and diversifies its Richmond market with this acquisition. DC’s WMMJ MAJIC 102.3 FM, a leading Urban Adult Contemporary station, will simulcast on 92.7 FM and grow its listenership.  In Richmond, Radio One will diversify its all-music cluster and maintain the sports radio format of WXGI 950 AM and simulcast the new Richmond ESPN Radio on 1240 AM and 102.7 FM.  The local marketing agreement is effective May 1.

The deal is anticipated to close by the end of June.

Red Zebra Broadcasting is based in Rockville, MD, and, until this sale, owned seven radio stations.  Redskins owner Daniel Snyder and Dwight Schar are company founders and primary investors,