Despite WRXP making gains in the Arbitron ratings with its revived alternative format (the station jumped to a 1.6 share in July, and then to a 2.1 share in August), Merlin Media was faced with a high debt load from recent purchases and the cost of its failed news format. Additionally, one of Merlin's investors was seeking buyers for the company's stations. Merlin announced on October 8, 2012 that it had agreed to sell WRXP to CBS Radio. With the purchase (estimated at $75 million), CBS said it would convert WRXP to a simulcast of its sports radio station WFAN. The simulcast began at 11:57 PM on November 1, 2012, after Jeff Buckley's "Last Goodbye" brought a close to WRXP's "New Rock" format. A call sign change from WRXP to WFAN-FM took effect the next day, November 2. CBS operated WFAN-FM under a local marketing agreement. until closing its purchase on December 10, 2012. The LMA officially relieved Merlin Media of its only New York radio property and allowed it to concentrate on its stations in the Chicago and Philadelphia markets.