The Commission is asking for public comments about the proposed merger between Entercom and CBS. Anyone interested in filing petitions to deny the deal have until May 1. Oppositions to petitions to deny must be filed no later than May 11. Replies must be filed no later than May 16. The FCC document also notes the need to divest stations in 7 markets so Entercom can stay under the FCC’s ownership caps.
Back on February 2, CBS entered into an agreement to merge CBS Radio with Entercom. The transaction is expected to be tax-free to CBS Corporation and its stockholders. The new company will have a market cap in excess of $2 billion. Entercom CEO David Field has said there will be $25 million in synergies and the new company will have revenue of roughly $1.7 Billion.
Read the FCC public filing HERE
