CEO David Field said the CBS exchange offer was “another important step forward towards the completion of our transformational merger with CBS Radio.” Field went on to tell his team how happy he was about what lies ahead. “I couldn’t be more excited about the team we are building, the brands we will own, and the bold plans we have to enable the combined company to thrive in the future with big investments across many areas of our business to enhance our capabilities and firepower.”
Field pointed out that the merger still requires regulatory approval from several government agencies. “We are continuing our work with those agencies and remain optimistic that we will receive their approvals in a timely manner and close our merger in the fourth quarter, possibly as early as November 17, the day after the CBS exchange offer is scheduled to conclude.” Entercom is also holding a shareholder meeting on November 15 in Philadelphia to vote on the merger.
