Emmis Selling St. Louis Radio Stations to Hubbard and Entercom for $60 Million
Emmis agreed to sell its St. Louis-area stations KSHE(FM) Crestwood, Missouri, and KPNT(FM) Collinsville, Illinois, to Hubbard Radio for $45 million and KFTK(FM) Florissant, Missouri, and KNOU(FM) St. Louis to Entercom for $15 million, Emmis said Friday. It said the…
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sales need FCC OK, are expected to close in the broadcaster's fiscal Q1 that a spokeswoman told us ends May 31, and local marketing agreements for the stations start Thursday. There had been agreements in principle for the transactions, the money from which will be used to repay term loans. Entercom sees its deal closing in calendar Q2 and Hubbard didn't comment.