DOJ: Entercom Can Buy 15 if it Sells Three

DOJ: ENTERCOM CAN BUY 15 IF IT SELLS THREE
[SOURCE: MediaWeek, AUTHOR: Katy Bachman]
The Department of Justice has greenlighted Entercom Communications’ proposed acquisition of 15 CBS Radio stations in four markets for $262 million as long as Entercom sells three stations in Rochester, N.Y. Entercom told the DOJ it would sell CBS Radio’s WRMM-FM, WZNE-FM and its own WFKL-FM within three months. Prior to the announced sale, Entercom owned four radio stations in Rochester. With the CBS stations, Entercom would own eight stations, accounting for more than 57 percent of the radio advertising revenue in the market, the subject of the DOJ’s investigation.
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