NY Times Sells Classical Radio Station WQXR In Three-Way Deal

Spanish-language media company Univision will pay $33.5 million to exchange its license for 105.9 FM for the existing WQXR frequency at 96.3 FM; public radio powerhouse WNYC will then pay $11.5 million for the WQXR call letters and website as well as the former Univision frequency, where WQXR will broadcast beginning in October. The New York Times Co. will use the $45 million in purchase proceeds to pay down debt.