If 20/20 is perfect vision, then the price that Cox Media Group has agreed on to sell its five-station radio cluster in Tulsa, Okla., to a local eye doctor and entrepreneur may be a very good omen, as CMG makes its second full-market divestiture in as many years.
As previously reported by RBR+TVBR, the buyer, Zoellner Media Group – equally owned by Tulsa optometrist Robert Zoellner and his wife, Amy – will acquire KRMG 102.3 FM and 740 AM, KWEN (K95.5), KRAV (Mix 96.5), and KJSR (103.3 The Eagle). According to an Asset Purchase Agreement filed with the Federal Communications Commission on May 23, that deal is valued at $20 million.
The agreement includes an initial $500,000 escrow deposit and is expected to close in the early second half of 2025, pending regulatory approval. Mark Jorgenson of Jorgenson Broadcast Brokerage brokered the deal. Evan McLemore of Levinson, Smith & Huffman, P.C. represented the Zoellners, while Henry Wendel of Cooley LLP served as legal counsel for Cox Media Group…