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Filing Reveals Combined Entercom Ownership Split
RADIO ONLINE | Wednesday, October 18, 2017 |
In a schedule 14A filing with the SEC detailing a date for a shareholder meeting, Entercom revealed more details about its merger with CBS Radio. The filing explained that immediately following the merger, CBS Radio shareholders will own 72% and Entercom 28% of the new combined company. Approximately 72% of the outstanding shares of Entercom common stock are expected to be held by the pre-merger holders of CBS common stock. Approximately 28% of the outstanding shares of Entercom common stock are expected to be held by pre-merger holders of Entercom Common Stock.
Entercom also asks those attending its shareholders meeting to approve, on a non-binding, advisory basis, certain compensation arrangements for Entercom's named executive officers in connection with the merger.
Entercom says that its and CBS 6 remain on track to close the transaction later this year.
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