CBS Sets Exchange Ratio In Entercom Deal


The long-awaited closing draws nearer as CBS Corp. announces that for each share of CBS Class B Common Stock accepted in its exchange offer, announced earlier, shareholders will receive up to 5.6796 shares of “Radio Common Stock” created just for the purpose of the CBS Radio/Entercom merger. When the deal closes, those shares will be converted to Entercom stock.

The exchange offer was announced on October 19, with CBS Corp. offering to trade up to 101,407,494 shares of Radio Common Stock for outstanding shares of CBS Class B Common Stock. The complete CBS Form 425 filing can be found HERE.



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