Entercom Communications Corp. and Cumulus Swap Stations
Posted by The Pole Sausage on February 13, 2019, 3:21 pm
Entercom Communications Corp. today announced a definitive agreement to acquire WNSH (NASH FM 94.7)/New York City, and WMAS & WHLL/Springfield, MA from Cumulus Media Inc., in exchange for Entercom’s three-station cluster in Indianapolis -- Country WFMS, Top 40 WYRG and Classic Hits WJJK. The transaction is immediately accretive to Entercom.
"We are excited to add NASH FM 94.7 to our outstanding lineup in New York City and to add WMAS and WHLL to our cluster in Springfield," said David Field, Chairman, President and Chief Executive Officer, Entercom. "These additions will enhance our ability to serve our listeners, partners and communities,” said. “We are saddened to part ways with our colleagues in Indianapolis, but know that they will be in great hands."
The acquisition of NASH FM 94.7 in New York is a complementary addition to Entercom's existing portfolio in Market No. 1. Entercom’s portfolio currently includes 1010 WINS and WFAN, the #1 most listened to all news station and sports station in the U.S., respectively, as well as Classic Hits WCBS-FM, News-Talk WCBS 880, WNYL (ALT 92.3) and Hot AC WNEW (New 102.7 FM).
The parties will begin programming the respective stations being acquired under Local Marketing Agreements on Friday, March 1, 2019. The exchange transaction is expected to close in the second quarter of 2019.