Tulsa Radio Sale Price Unveiled for Five-Station CMG Cluster

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If 20/20 is perfect vision, then the price that Cox Media Group has agreed on to sell its five-station radio cluster in Tulsa, Okla., to a local eye doctor and entrepreneur may be a very good omen, as CMG makes its second full-market divestiture in as many years.


As previously reported by RBR+TVBR, the buyer, Zoellner Media Group – equally owned by Tulsa optometrist Robert Zoellner and his wife, Amy – will acquire KRMG 102.3 FM and 740 AM, KWEN (K95.5), KRAV (Mix 96.5), and KJSR (103.3 The Eagle). According to an Asset Purchase Agreement filed with the Federal Communications Commission on May 23, that deal is valued at $20 million.

The agreement includes an initial $500,000 escrow deposit and is expected to close in the early second half of 2025, pending regulatory approval. Mark Jorgenson of Jorgenson Broadcast Brokerage brokered the deal. Evan McLemore of Levinson, Smith & Huffman, P.C. represented the Zoellners, while Henry Wendel of Cooley LLP served as legal counsel for Cox Media Group.

The acquisition adds a new entrant to radio ownership in the market. Dr. Zoellner, a longtime advertiser on local stations, is making his first foray into broadcast ownership. The company has tapped former CMG Tulsa market executive Steve Hunter as President and General Manager. Hunter previously held management positions at Scripps Radio and Griffin Media.

The deal follows Cox Media Group’s April 2023 exit from the Houston market, when it sold its four-station cluster to Urban One for $27.5 million. That transaction included KKBQ (93Q), KHPT, and KGLK (The Eagle simulcast), and KTHT (Country Legends 97.1), and came as part of a broader reshaping of CMG’s radio portfolio.