Entercom to swap some radio stations
EmptyBALA CYNWYD, Pa. -- Radio broadcaster Entercom Communications Corp. said Thursday that it will swap seven radio stations for Bonneville International Corp.'s three FM radio stations in San Francisco.
The Entercom stations being exchanged include four FM stations in Cincinnati and one FM station and two AM stations in Seattle. Entercom will hold on to four FM stations in Seattle.
Entercom said the move will expand its footprint into the San Francisco market, the nation's fourth-largest.
The companies anticipate starting operations under a time brokerage agreement after clearing certain regulatory requirements, which is expected in the first quarter.
The transaction is subject to Federal Communications Commission approval, which is expected later this year.
Shares of Entercom fell 3 cents to $27.97 in afternoon trading on the New York Stock Exchange.