Forward Association Sells WEVD to ABC
Forward, September, 2002
Forward 09-06-2002 The Forward Association, the owner of the Forward family of newspapers, has reached an agreement to sell its AM radio station WEVD in New York to ABC Inc. for $78 million. Samuel Norich, chief executive officer of the Forward Association, announced the terms of the sale Thursday. Media Venture Partners is representing the Forward Association in the sale, which will require FCC approval. The planned sale follows the agreement announced in September 2001, under which ABC's ESPN subsidiary was granted the right to provide programming on WEVD and ABC acquired an option to initiate negotiations for the purchase of the station. "ABC's purchase of WEVD is great news for the Forward Association and its group of newspapers," said Barnett Zumoff,...
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