logo
Share SHARE
FONT-SIZE Plus   Neg

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

Entercom Communications Corp. (ETM) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast. Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates. Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook. Redwood...
comments powered by Disqus
RELATED NEWS
Trade ETM now with 
Follow RTT