Big City Radio Completes Sale of WRKL-AM to Polnet Communications.NEW YORK--(BUSINESS WIRE)--MARCH 23, 1999--Big City Radio, Inc. (AMEX AMEX See: American Stock Exchange :YFM YFM Yorkshire Fund Managers (UK) ), an owner and operator of radio stations in the United States' three largest radio markets, today announced the sale of the Company's Rockland County, New York Rockland County is a county located in the U.S. state of New York, 12 miles north-northwest of New York City. As of the 2000 census, the population was 286,753. The county seat is New City. The name comes from "rocky land," an early description of the area given by settlers. property WRKL-AM, New City, New York New City is a hamlet (and also a census-designated place) in Rockland County, New York, USA. The population was 34,038 at the 2000 census. The population was 33,673 in 1990. New City is the county seat of Rockland CountyGR6. , to Polnet Communications Polnet Communications, Ltd. is a Chicago, Illinois-based company that owns 8 AM radio stations in the United States. Many stations run Polish-language or other multicultural programming. The company is 100 percent owned by its president Walter Kotaba. Ltd. for $1,625,000. WRKL-AM, known for its News/Talk programming on 910AM for over three decades, was acquired in December 1994 together with WRGX-FM as one of Big City Radio's original New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of stations. From December 1994 through August 1998, Big City Radio acquired three additional suburban FM radio stations in the New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. on the 107.1 frequency, now broadcasting as WYNY-FM, New Country Y-107, the only country music radio station serving the New York Metropolitan Statistical Area. In keeping with Big City Radio's strategic objectives, the Company today announced the sale of WRKL-AM to Polnet Communications." Big City Radio, Inc. owns and operates radio stations in the three largest radio markets in the United States. The Company acquires radio broadcast properties in or adjacent to major metropolitan markets and utilizes innovative engineering techniques and low-cost, ratings-driven operating strategies to develop these properties into successful metropolitan radio stations. Stuart Subotnick, Chairman of Big City Radio, Inc. and a general partner of Metromedia Company, is a majority shareholder of the Company's Common Stock. Statements in this news release relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Big City Radio to be materially different from those expressed or implied by such forward-looking statements. Such factors include shifts in population and other demographics, changes in audience tastes, the level of competition for advertising dollars, priorities of advertisers, fluctuations in operating costs, new laws and governmental regulations and policies, changes in broadcast technical requirements, changes in the willingness of financial institutions and other lenders to finance radio station acquisitions and operations, and other factors which are described in the Company's Securities and Exchange Commission filings. |
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