Broker Bob Heymann says we should keep an eye on Field. “Entercom is a very good candidate to pick off clusters.” And Field has consistently said he would be open to looking at deals that made strategic sense to the company. Being bullied by the DOJ over the Lincoln Financial deal has probably worn off by now and with only one station in Los Angeles, Field might be thinking, KCBS, KNX, KROQ, and KRTH would look pretty cool emblazoned with an Entercom logo.
In a September 2015 cover story interview, Field told Radio Ink, “We have always said that we are open to making acquisitions that are strategically compelling and that enable us to grow. But we are not willing to sacrifice our strong balance sheet. If opportunities come along that fulfill that criteria, great.” We’re guessing Field sees at least some of the CBS properties as an opportunity.
Entercom already competes with CBS in the Boston area (where it has 7 stations), Miami (4 stations), Sacramento (6 stations), San Diego (6 stations), San Francisco (5 stations), Seattle (5 stations).
Atlanta might also be a market Entercom is interested in. Entercom owns an AM and an FM in Atlanta. And CBS owns two FMs and one AM. In San Diego, Entercom owns six, while CBS owns two. And all that speculation is not to assume Entercom may not want to look at markets it is not in at all. As Heymann puts it, these are “trophy” properties.
