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 Washington Redskins’ owner Daniel Snyder has made an undisclosed offer to buy the local sports-talk stations WTEM-AM, WWRC-AM (1260) and WTNT-AM (570). The current owner of the three stations, Clear Channel Broadcasting, stresses that an agreement has yet to be reached. As reported by the Washington Post:
A purchase of WTEM (980) would give Snyder’s radio station group, called Red Zebra Broadcasting, a lock on the sports radio market in the Washington area. Red Zebra already owns three smaller stations that are WTEM’s chief rivals for sports call-on and discussion programs.
Snyder bought the three stations (known as Triple X ESPN Radio) that Red Zebra owns in 2006 for $33 million, in an attempt to dominate the team’s local broadcasting market. Unfortunately, the plan backfired when fans began complaining of poor reception. Because of this, Snyder promptly struck a deal with Clear Channel to broadcast Redskin games on WBIG-FM (100.3), a station with stronger signal across the entire region. The purchase of WTEM would provide Red Zebra with a stronger signal for Redskin games. It will not, however, solve the issue entirely. Due to reduced power at the station during nighttime hours, parts of Northern Virginia experience a very weak signal. Snyder’s current stations (broadcasting at 94.3 and 92.7 FM, and 730 AM) simulcast ESPN Radio’s syndicated sports talk programs, and a handful of local programs, such as an afternoon call-in program hosted by Redskins legend John Riggins.
According to Forbes, Snyder’s net worth totals $1 billion, with more than half of that tied up in the Redskins, while the rest lies within investments.
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Nick Kappel is a staff member for the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He can be contacted through the Business of Sports Network's Author Profiles
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