Former basketball great Erving “Magic” Johnson to hold a major stake in newly created YMF Media
Thirty year long rival stations 98.7 KISS FM and WBLS (107.5) would soon be "one family, one station." According to the Daily News—who compare the merger with a Yankees/Mets merger—the stations began simulcasting this morning, starting with a tribute to the 30-year legacy of KISS. Then on Monday, they will officially become one station, with all hosts (as of now) being integrated under the WBLS call letters, meaning KISS 98.7 FM is dead. Former basketball great Erving “Magic” Johnson will hold a minor stake in newly created YMF Media. YMF Media was created by two Yucaipa funds and two Fortress funds, which owned the senior debt of now defunct Black owned Inner City Broadcasting Corporation. The Inner City Broadcasting Corporation ("ICBC") was an American media company based in New York City. Creditors of Inner City Media Corp., the holding company for the owner of New York City’s WLIB and WBLS radio stations, filed an involuntary Chapter 11 bankruptcy...