CEO David Field told investors and analysts Wednesday that he was not given the opportunity to get a look at the Greater Media assets before they were sold to Beasley Media Group, adding, “It looked like a great deal for Beasley.” Earlier this month it was announced that Beasley was purchasing Greater Media’s 21 stations for $240 million.
Did Field want a shot at the Greater Media markets (Boston, Charlotte, Philadelphia, Detroit and New Jersey)? Those large markets certainly seem like they would fit into Field’s game plan, however, he did not say whether he wanted a shot at Greater Media during his earnings call.
When asked about acquisitions Field said what he says on every call: that Entercom will look for opportunities that are a strategic fit, accretive to shareholders, and protect the company balance sheet. “We’ve been very disciplined about that over the years. We’ve been able to avoid some pretty well-publicized acquisitions that have caused problems for others. What we’ve chosen to do has worked out well for us.”
