Financial 411: New York Public Radio to Buy Four NJ Stations

New Jersey is out of the radio business, and will no longer manage its own television station.

New York Public Radio, the owner of WNYC, will acquire four stations from the NJN network, New Jersey’s public television and radio broadcaster: WNJY FM 89.3 Netcong, WNJP FM 88.5 Sussex, WNJT FM 88.1 Trenton and WNJO FM 90.3 Toms River.

New Jersey Governor Chris Christie said New York Public Radio will create a new public radio station focused on New Jersey news, and with a bureau in the Garden State.

WNYC's Ilya Marritz and Bob Hennelly have been covering the story. The governor's office said the savings for taxpayers will be about $13 million dollars a year, including staff and operations costs, and an operating subsidy.

They'll also talk about how local lawmakers are reacting to the deal.

The radio acquisitions are subject to review by the New Jersey Legislature and approval by the New Jersey Public Broadcasting Authority and the FCC. The NJTV arrangement needs the approval of the state legislature.