×
You will be redirected back to your article in seconds

Entercom Sells Three Stations as CBS Radio Merger Nears Completion

In order to complete its merger with CBS Radio, Entercom has agreed to divest three of its station, including classic rocker KSWD Los Angeles (100.3 The Sound), to Educational Media Foundation for an undisclosed price. KSWD will be reformatted as Christian contemporary station K-LOVE 100.3 FM.

The company has also agreed to sell a pair of country stations, KOOQ in San Diego (which simulcasts on KSON) and WGGY (Froggy 101) in the Scranton-Wilkes Barre, Pa., area, to EMF.

MVP Capital, LLC served as Entercom’s financial advisors on the transaction.

Entercom President/CEO David Field issued the following statement about the divestiture, “We have made great progress towards the completion of our merger with CBS Radio, and this agreement with EMF brings us one step closer to the finish line. We remain on track to close the CBS Radio transaction later this year and confident in the value-creating opportunities presented by this transformational combination.”

Added EMF CEO Mike Novak, “We are particularly excited to see what God has in store for the people of Los Angeles, through our new station, ‘Positive & Encouraging’ K-LOVE at 100.3 FM. The people at Entercom have been a joy making this purchase possible.”

Based in Rocklin, Calif., EMF is a non-profit organization that owns a total of 770 FM stations and translators, specializing in adult contemporary Christian music.

Entercom announced plans to merge with CBS Radio last February in an all-stock transaction, giving it 240 stations in virtually all of the Top 50 U.S. media markets. The deal is expected to close by the end of 2017.

More Music

  • ‘Hitsville: The Making of Motown’ Acquired

    ‘Hitsville: The Making of Motown’ Acquired by Showtime for U.S.

    Polygram Entertainment, Universal Music Group’s film and television division, along with Capitol Music Group, Motown Records and Fulwell 73 announced today that “Hitville: The Making of Motown” has been acquired by Showtime for release in North America with plans for a fall premiere, and Altitude for theatrical release in the UK and Ireland. The feature-length [...]

  • Dimitri Vegas

    Dimitri Vegas Talks 'Rambo V: Last Blood' Role, Working With Sylvester Stallone

    Dimitri Thivaios, better known as dance music’s Dimitri Vegas, is taking his skills beyond the DJ booth, picking up a major film role in the forthcoming “Rambo V: Last Blood.” The Belgium-born Thivaios, who headlines massive EDM festivals like Tomorrowland with his brother Michael (they perform under the banner Dimitri Vegas and Like Mike), has [...]

  • Winner of the 2019 Eurovision Song

    Netherlands' Duncan Laurence Wins 2019 Eurovision Song Contest

    Madonna’s controversial performance may have grabbed the headlines, but Duncan Laurence won the nearly four-hour-long 2019 Eurovision Song Contest for the Netherlands with the song “Arcade,” which he cowrote with Joel Sjöö and Wouter Hardy. Laurence won a total of 492 points from the expert juries and televoters in a contest that was touch and [...]

  • Madonna Eurovision Song Contest, Tel Aviv,

    Madonna at Eurovision in Tel Aviv: 'Never Underestimate the Power of Music'

    Madonna took the stage at the Eurovision Song Contest in Tel Aviv on Saturday night (May 18). The appearance comes ahead of the release of her forthcoming album “Madame X,” due out on June 14. Following performances from Israeli singer-songwriter Idan Raichel and 2018 Eurovision winner Netta Barzilai, who sang her latest single “Nana Banana,” [...]

  • WEST HOLLYWOOD, CA - MAY 16:

    On the Scene at Pollstar's Impact 50 Party With Agents for Billy Joel, Ed Sheeran, More

    Oak View Group co-founders Tim Leiweke and Irving Azoff were among the luminaries on hand to mark Pollstar’s inaugural Impact 50 list recognizing the executives shaping the present and future of the live concert industry. Live Nation president/CEO Michael Rapino was named “Most Impactful” on the list. The event was held on May 16 high [...]

  • LAS VEGAS, NEVADA - MAY 17:

    Concert Review: Janet Jackson Dances Back in Top Form at Vegas Residency Opening

    Here is something you’d place a bet on after seeing Janet Jackson’s new Las Vegas residency: She has been putting in a lot of hours on the treadmill. Not that we get to see how well-toned she is or isn’t, since she’s practically overdressed for the occasion, compared to the other superstar divas who come [...]

More From Our Brands

Access exclusive content