(AllHipHop News) Speculation that Jay Z is part of a group working to purchase New York radio station Hot 97 has spread around the Internet. Hot’s DJ Funkmaster Flex already addressed the rumors on Instagram writing, “Yeah Right! We good over here! They not buying s**t!”

[ALSO READ: Funkmaster Flex Releases Second Rant Against Jay Z, “We Not Scared Of You” (AUDIO)]

The station’s fellow on-air personalities Ebro Darden and Peter Rosenberg spent part of their show discussing the accusations Hov would soon be the new owner of Hot. They began calling the station “Hov 97” and played several instrumentals from Jay’s catalogue.

“Never let the truth get in the way of good story,” said Rosenberg.

Ebro later added, “There’s a lot of radio stations this guy could have bought, cause we’re not bankrupt. iHeart Media is bankrupt. That would be a cheaper buy. Been bankrupt – $20 billion. We good over here.”

Darden suggested Hot 97 is worth around $200 – 250 million, and it would cost a potential buyer nearly $600 million to buy the entire brand including its digital holdings. Rosenberg also stated Hot is the current owner’s most valuable property and most successful station.