Entercom Enters Into Definitive Exchange Agreement to Sell 107.3 FM in Boston to Educational Media Foundation
PHILADELPHIA, PA – February 18, 2020 – Entercom Communications Corp. (NYSE: ETM), a leading media and entertainment company and one of the two largest radio broadcasters in the United States, today announced a definitive agreement to sell 107.3 FM in Boston to Educational Media Foundation (EMF) for $10.75 million in cash.
Entercom will continue to air WAAF on its existing HD stations, 104.1 HD2 and 93.7 HD2 and on RADIO.COM.
EMF will begin programming 107.3 FM under a Network Affiliation Agreement beginning Saturday, February 22, 2020. The transaction is expected to close in the second quarter of 2020.
About Entercom Communications Corp.
Entercom Communications Corp. (NYSE: ETM) is a leading American media and entertainment company reaching and engaging over 170 million people each month through its premier collection of highly rated, award winning radio stations, digital platforms and live events. As one of the country’s two largest radio broadcasters, Entercom offers integrated marketing solutions and delivers the power of local connection on a national scale with coverage of close to 90% of persons 12+ in the top 50 markets. Entercom is the #1 creator of live, original, local audio content and the nation’s unrivaled leader in news and sports radio. Learn more about Philadelphia-based Entercom at www.audacyinc.wpengine.com, Facebook and Twitter (@Entercom).