Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Entercom Communications To Acquire San Francisco's KBLX-FM - Quick Facts

RELATED NEWS
Trade ETM now with 
4/2/2012 5:48 PM ET

Entercom Communications Corp. (ETM: Quote) announced that it has signed a definitive agreement to acquire 102.9 KBLX-FM from Inner City Media Corporation and its subsidiaries for $25.0 million in cash.

KBLX will become the fourth brand in Entercom's San Francisco cluster, joining Entercom's existing lineup of music station 96.5 KOIT-FM, sports talk station The Game 95.7 KGMZ-FM and classic rock station 98.5/102.1 KUFX-FM, the company said.

Entercom noted that it will begin operating KBLX under a time brokerage agreement or "TBA" which will take effect after approval by the U.S. Bankruptcy Court which is administering ICMC's bankruptcy proceedings and overseeing the sales process. Entercom expects the TBA to be approved in late April and plans to maintain the station's urban programming format.

The closing of the transaction is subject to certain customary closing conditions, including approval of the Federal Communications Commission which is expected later this year.

Click here to receive FREE breaking news email alerts for Entercom Communications Corp and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.