Robservations on the media beat:
Two northwest suburban radio stations owned by Matrix Broadcasting — classic rock WFXF 103.9-FM and adult contemporary WZSR 105.5-FM — will be acquired by Alpha Media in a $4.7 million deal, according to an FCC filing Monday. Alpha Media has been operating the two stations under a shared services agreement since Matrix Broadcasting filed for bankruptcy protection last year. In order to comply with ownership limits, Alpha Media will spin off 103.9 The Fox to Educational Media Foundation, the noncommercial Christian broadcasting company behind the "K-Love" and "Air 1" formats, for $900,000. That's bad news for morning personality Eddie Volkman, the longtime Chicago radio star, and the rest of the station's lineup, including Alex Quigley and Pat Capone. "All I know for now is it's business as usual, so I'll keep going in to entertain until they tell me not to," Volkman said. While it will continue to operate Star 105.5, Alpha Media also will sell southwest suburban active rock WRXQ 100.7-FM to Walnut Radio Illinois for $300,000. Continue reading