Business

Feder: Newsweb hands back WAIT's license to FCC

Posted July 20, 2020 1:00 am

Robert Feder

For the second time in five years, Chicago-based Newsweb Corp. has shut down a suburban radio station and given its license back to the FCC, Robert Feder writes.

WAIT 850-AM has been off the air since August 2019 when Newsweb sold the transmitter site in Crystal Lake to McHenry County College.

Last week Newsweb notified the FCC that the station has "permanently ceased operations" and the company was surrendering its license. Newsweb acquired the 2,500-watt daytime station for $8.25 million in 2003.

In 2015 Newsweb shut down and returned the license of WCFJ 1470-AM in south suburban Chicago Heights.

Owned by media magnate and Democratic megadonor Fred Eychaner, Newsweb operates progressive talk WCPT 820-AM and time-brokered WCPY 92.7-FM, WSBC 1240-AM and WNDZ 750-AM.

Get the full report, and more Chicago media news, at robertfeder.com.

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