In a 300-plus page document filed with the SEC regarding the pending merger with CBS Radio, Entercom states it has reached preliminary agreements with buyers who will purchase stations in four markets Entercom must move stations from in order to close the CBS Radio deal.
In addition to selling off those stations, and taking in $265 million, Entercom will pick up an additional 11 stations in three markets. The document does not mention which markets Entercom will be adding thee stations in.
Originally, Entercom had to move 19 stations (8 Entercom stations and 11 CBS Radio stations) to comply with the FCC’s local radio ownership role. EMF is purchasing three stations, one in Los Angeles, one in San Diego, and one in Wilks Barre for $57.75 million. Sixteen more stations are slated to be moved.
Read the entire SEC filing HERE.
