Media Bureau Approves Entercom/CBS Radio
The FCC Media Bureau approved Entercom’s all-stock buy of CBS Radio, said an order Thursday. The deal is expected to close Nov. 17, Entercom said. The combination will have 235 stations, “with coverage of close to 90% of persons 12+…
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in the top 50 markets,” the release said. To comply with ownership rules, the deal includes divestiture of 19 stations and six associated booster stations to a trust that will be charged with selling them within six months of the completion of the deal. The deal also includes six-month temporary waivers of the radio/TV cross ownership rules to allow temporary directors to oversee the transition in the San Francisco and Miami markets. Entercom reached a consent decree with DOJ last week (see 1711010050).