Entercom Announces Closing of Lincoln Financial Media Acquisition and Commences Operation of KSWD-FM Los Angeles
(Bala Cynwyd, Pa. July 16, 2015) Entercom Communications Corp. (“Entercom” or the “Company”) (NYSE: ETM) announced today that it has closed its acquisition of Lincoln Financial Media Corporation (“LFM”) and will begin operating the LFM stations on Friday, July 17.
Entercom also announces that effective the same date it will commence operations of KSWD-FM Los Angeles under a time brokerage agreement (“TBA”) with Bonneville International Corporation (“Bonneville”). At the same time, Bonneville will commence operations of Entercom’s Denver stations KOSI-FM, KYGO-FM, KKFN-FM and KEPN-AM under a TBA with Entercom.
This follows the Company’s announcement on July 14 of the settlement of certain regulatory requirements necessary to close the LFM acquisition.
Closing of the Bonneville-Entercom station exchange is subject to FCC approval and other customary closing conditions. Entercom expects this transaction to close by the fourth quarter of this year.
Entercom Communications Corp. (NYSE: ETM), is the fourth-largest radio broadcasting company in the United States, with a portfolio of 125 highly-rated radio stations in 27 top markets across the country. Known for developing unique and highly successful locally programmed stations, Entercom’s brands reach and engage close to 40 million people each week, delivering a curated mix of outstanding local personalities and a broad range of compelling music, news, talk and sports content.
Founded in 1968, Philadelphia-based Entercom also operates hundreds of events each year attracting millions of attendees, and provides customers with a broad range of digital marketing solutions through its SmartReach Digital products.
More information is available at www.audacyinc.wpengine.com, Facebook, and Twitter (@entercom).
Executive Vice President and Chief Financial Officer