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Entercom Makes $265 Million in Spin-Off Sale
RADIO ONLINE | Wednesday, October 11, 2017 | 0:20am CT

In an amended filing with the SEC regarding its pending merger with CBS Radio, Entercom says it's reached preliminary deals with buyers who will purchase and operate stations in four markets that the company must divest stations to complete the transaction. As a result of these collective transactions, Entercom will receive $265 million in proceeds in addition to acquiring 11 stations in three markets.

Entercom will reportedly sell or swap five stations stations, including Urban AC KBLX-FM and AC KOIT-FM/San Francisco; Classic Rock KUFX-FM (98.5 KFOX)/San Jose; and News/Talk WRKO-AM and Urban AC WKAF-FM (The New 97.7)/Boston.

CBS Radio will reportedly sell or swap CHR KMVQ-FM (99.7 Now)/San Francisco; News WBZ-AM and Sports WBZ-FM (98.5 The Sports Hub)/Boston; Sports KFNQ-AM (AM 1090 The Fan), Adult Hits KJAQ-FM (96.5 JACK FM) and Classic Rock KZOK-FM/Seattle; Sports KHTK-AM, Country KNCI-FM (New Country 105.1), AC KYMX-FM (Mix 96) and CHR KZZO-FM (Now 100.5)/Sacramento.

Entercom previously announced an agreement with Educational Media Foundation for the sale of stations in three markets: Los Angeles, San Diego and Wilkes Barre.

The filing also stated that if any radio stations required to be divested are not sold to third parties as of the closing of the merger, the stations will be transferred to a divestiture trust until they are divested to third parties following the closing of the merger.

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