CINCINNATI , Oct. 9 /PRNewswire-FirstCall/ -- Regent Communications, Inc. (Nasdaq: RGCI) today announced that it has entered into an agreement to divest four radio stations serving the Watertown, New York market to KXOJ, Inc. for $6,250,000 in cash. The cluster includes the following radio stations: WFRY- FM, WCIZ-FM, WTNY-AM and WNER-AM. The transaction, which is subject to receipt of all regulatory approvals, is expected to close in the first quarter of 2008.

William Stakelin, President and CEO of Regent, commented: 'This transaction reflects our focus on maximizing the value of our portfolio to the benefit of our shareholders. The proceeds from the sale of our smallest market cluster will strengthen our financial flexibility as we continue to build on our leadership position in the nation's mid-sized radio markets. We would like to thank all of our employees in Watertown for their dedication and service.'

Richard A. Foreman Associates, Inc. was the broker in the transaction for Regent Communications, while John Pierce & Co. represented the buyer.

Regent Communications, Inc. is a radio broadcasting company focused on acquiring, developing and operating radio stations in mid-sized markets. Following the completion of all announced transactions, Regent will own and operate 64 stations located in 13 markets. The Company's shares are traded on the Nasdaq Stock Market under the symbol 'RGCI.'

SOURCE Regent Communications, Inc.