Jay Z is reportedly part of a group in negotiations to purchase New York radio station Hot 97, according to MediaTakeOut.com.
The website cites an unnamed "rock solid source" as saying the hip-hop mogul is part of a consortium that's in discussions to buy the legacy radio station. New York Knicks star Carmelo Anthony is also reportedly also part of the group involved in the negotiations.
WQHT Hot 97 is currently owned by Emmis Communications and is one of its flagship radio properties. Its DJ personalities include Ebro, Peter Rosenberg, Miss Info and Funkmaster Flex.
It wouldn't surprise me. Emmis stations don't do well in New York compared to iHeartMedia, CBS and Cumulus owned station clusters. Jay and Carmelo could take Hot 97 to new heights.
