Big radio companies don't want to buy stations because their prices are too high.
He wanted to buy the station but another organization bought it from under his offer.
The owners bought the station just two years ago for $56 million.
Throughout this period, many national radio networks have offered to buy the station.
The two broadcasters made an offer to buy the station but were not successful.
The company would buy the station outright in February 2005.
The town bought the station in 1966 as part of its urban renewal efforts.
Westwood One is buying the station for $56 million in a deal expected to close next month.
They also had an option to buy the station.