US: Entercom completes US$2.4b CBS Radio deal

Entercom Communications announced Friday, November 17, that it has completed its merger with CBS Radio, making it the No. 2 radio operator in the US by revenue behind iHeartRadio.

First announced in February 2017, the merger expands Entercom’s nationwide footprint from 127 stations to 235 stations in 47 markets across the US, including 23 of the top 25 markets.

The merger has triggered several changes to radio formats across multiple genres nationwide, including the return of alternative to NYC’s airwaves with the switch of contemporary hits station 92.3 AMP Radio to ALT 92.3 FM — the city’s first new alt-rock station since 2011. Entercom will also become the market leader in Adult Top 40 formats, with CBS Radio owning all of the top 10 Adult Top 40 markets as ranked by Nielsen Audio.

“We are thrilled to officially close our transformational merger with CBS Radio and welcome their talented employees and iconic brands to Entercom,” David Field, president and CEO of Entercom, said in a statement. “We look forward to capitalizing on our unique positions in sports, news, music, podcasting, live events, digital and more to provide outstanding experiences for our listeners and compelling integrated marketing opportunities for our advertisers.”

Full Content: WWL

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