$824.5 mil radio station deal makes company pure TV
NEW YORK — Sinclair Broadcast Group said Thursday that it finalized a deal to sell 46 radio stations and a stake in USA Digital Radio to Entercom Communications for $824.5 million.
The agreement includes three more stations and is $3 million higher than when the two broadcasters first announced the sale earlier this summer. The added stations are in the Greenville, S.C., and Spartanburg, S.C., areas.
Entercom said it will have to sell three stations in Kansas City, Mo., to stay in line with federal limits on station ownership.
Sinclair, after the sale of its radio assets, will be a pure-play TV broadcaster.
Separately, Clear Channel Communications said it agreed to buy five radio stations in Ohio and West Virginia from four different owners for $11.5 million.