×
You will be redirected back to your article in seconds

Entercom to Divest 13 Stations in Exchange for Justice Department’s Approval of CBS Radio Acquisition

WASHINGTON — Entercom Communications will divest 13 radio stations as part of an agreement with the Justice Department to proceed with its acquisition of CBS Radio.

The settlement with the DOJ, unveiled on Wednesday, requires that Entercom, based in Philadelphia, divest five stations in Boston, four in San Francisco, and four in Sacramento. The merger will give Entercom 235 stations across the country.

Entercom is swapping stations with two other companies, iHeartRadio and Beasley Broadcast Group, as part of the transactions.

“The required divestitures will protect competition for local businesses that advertise on radio stations in Boston, San Francisco, and Sacramento,” said Makan Delrahim, assistant attorney general in the Justice Department’s antitrust division. “The elimination of this competition would have resulted in higher prices to businesses in those markets.”

The deal with CBS Radio must still be approved by the FCC. Entercom said it expects the transaction to close as early as Nov. 17.

As part of the exchange agreements, iHeartMedia will acquire WBZ-AM, WZLX-FM, WKAF-FM, and WRKO-AM in Boston in addition to KFNQ-AM, KJAQ-FM, and KZOK-FM in Sacramento. Entercom is acquire iHeartRadio’s WKXJ-FM, WRXR-FM, WUSY-FM, and WNLD-FM in Chattanooga, as well as WBTJ-FM, WRNL-AM, WRVA-AM, WRVQ-FM, WRXL-FM, and WTVR-FM in Richmond.

Beasley will buy WBZ-FM in Boston and Entercom will acquire WMJX-FM in that market.

Earlier this year, Entercom had agreed to sell three of its stations, including classic rocker KSWD Los Angeles (100.3 The Sound), and two country stations, KOOQ in San Diego (which simulcasts on KSON) and WGGY (Froggy 101) in the Scranton-Wilkes Barre, Pa., area.

Entercom has also entered into a local marketing agreement with Bonneville International Corp. to program four stations in San Francisco and four in Sacramento.

“Today’s announcements mark a significant milestone as we work to complete the transformational combination of Entercom and CBS Radio,” said Entercom president and CEO David Field in a statement. “While it is necessary to divest certain stations in order to secure regulatory approval, it is difficult to part ways with so many strong brands and, most importantly, their talented people.”

Intercom’s transaction with CBS was announced in February. The merger is an all-stock transaction.

Popular on Variety

More Politics

  • Ruth Bader Ginsburg Supreme Court Justice

    Justice Ruth Bader Ginsberg Treated for Pancreatic Cancer

    Justice Ruth Bader Ginsberg has been cleared “definitively” of pancreatic cancer after spending three weeks undergoing treatment in New York City for the illness. The Supreme Court issued a statement on Friday saying that the Justice responded well to radiation treatment. In early July, Ginsberg underwent a regular blood test that came back abnormal, and [...]

  • Taylor SwiftTeen Choice Awards, Arrivals, Los

    Taylor Swift Says She's 'Remorseful' For Not Getting Involved in 2016 Election

    Taylor Swift says she feels “really remorseful for not saying anything” during Trump’s run for presidency in 2016, per an interview with the Guardian published today. The singer points to her negative public image during the time of the election as one reason she stayed uninvolved, but explained that she would’ve endorsed Hillary Clinton for [...]

  • US President Donald J. Trump speaks

    Apple Stock Down 4.6% After Trump ‘Orders’ Companies to Leave China

    Apple’s share price was down around 4.6% Friday at the close of the market, to $202.64 per share, after President Trump took to Twitter to “order” U.S. companies to leave China. The slide came amid a market-wide sell-off, with the NASDAQ sliding 3%, and the Dow dropping 623 points. Trump’s edict was a response to [...]

  • David Koch Obit

    David Koch, Libertarian Activist and Billionaire Philanthropist, Dies at 79

    David Koch, brother of Charles Koch and one of the owners of Koch Industries, the second-largest private company in the U.S., has died at 79. According to the New York Times, Charles Koch announced the news of his brother’s death in a statement. Though he did not attribute to David’s death to a particular cause, [...]

  • Pod Save America Hosts on Trump

    'Pod Save America' Hosts on Trump, the Democratic Primary and What's Wrong With Cable News

    Like many Democrats, Tanya Somanader was blindsided by the 2016 presidential election. A veteran of the Obama White House and a former speechwriter and digital specialist for House Speaker Nancy Pelosi, Somanader was gearing up for a Hillary Clinton administration. Instead, she had to grapple with the reality of a Donald Trump presidency. “A lot [...]

  • Sean Spicer Dancing With the Stars

    Sean Spicer Hopes 'Dancing With the Stars' Gig Will 'Move the Country Forward'

    In the face of a swift backlash, former White House press secretary Sean Spicer said he hoped his role as a contestant on ABC’s “Dancing With the Stars” can help “move the country forward in a positive way.” Spicer told CNN on Thursday that his “DWTS” posting was about entertainment, not politics. ABC revealed Spicer [...]

  • Brazil's President Jair Bolsonaro attends a

    Bolsonaro LGBTQI Outburst, Subsidy Freeze, Stirs Outrage

    Ramping up the drive into censorship in Brazil, its Minister of Citizenship, Omar Terra, has suspended a call for applications for governmental TV funding – until new criteria are established for its application. The country’s secretary for culture, Henrique Pires, who reports to Terra, has resigned in protest of the incentive freeze. The suspension, for [...]

More From Our Brands

Access exclusive content