CBS Radio to merge with Entercom - Page 7
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Thread: CBS Radio to merge with Entercom

  1. #61
    One wouldn't expect it to, though there's always the possibility Entercom could see some of its smaller markets to help pay down some of the debt it's assuming from CBS. Beasley, of course, recently sold out of Greenville, NC to help cover some of the expenses and debt it incurred after buying Greater Media.

  2. #62
    Quote Originally Posted by only1moore View Post
    You can bet a lot of companies will be kicking the tires of some of the properties CBS and Entercom will have to spin off in Los Angeles, San Francisco, Sacramento, Boston, San Diego, and Seattle. I like to see Beasley or Cox make a move and go after a few.
    Or Bonneville & Hubbard.

  3. #63

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    https://www.fybush.com/nerw-20170206/

    Entercom and All-News radio.

  4. #64

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  5. #65

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  6. #66
    Quote Originally Posted by DavidEduardo View Post


    My understanding is that CBS leases HD2 channels to Disney. This is like a landlord-tenant agreement; if a property is sold, generally the tenant stays on.
    Sounds a lot like the Rams-Chargers agreement for their new stadium. That said, I think entercom should negotiate with Cumulus and Westwood One for a strong programming relationship when it comes to non-music programming and more sports related programming if they can come up with a win-win for everyone. Especially in Los Angeles where I'm not sure if they have CBS Sports Radio in that market since KFWB was sold. Now would be the time to turn one of their classic (Hits & Rock) stations to that format.

  7. #67

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    http://news.radio-online.com/cgi-bin...line_id=b14976

    Update Q$ results report that CBS radio is discontinued due to the Entercom Deal

  8. #68

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    http://news.radio-online.com/cgi-bin...line_id=b14997

    Here is an update for Entercom. And its done to seal the merger with CBS radio

    Entercom Communications and CBS Radio Inc. have announced that CBS Radio has established pricing for a seven-year, $500 million senior secured term loan B to be issued in connection with their previously announced merger. The loan will have an interest rate of LIBOR plus 2.75%, with no LIBOR floor, and will be issued at par.

    The new term loan will be issued to refinance Entercom's capital structure, with proceeds used to repay its existing term loan and redeem its preferred stock, as well as pay transaction fees and expenses. CBS Radio's credit facility is being amended to include the new term loan, which is expected to be funded at the closing of the merger. That transaction is expected to close during the second half of 2017.

  9. #69

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    http://www.allaccess.com/net-news/ar...ations-in-7-ma

    Here is an Update Headline says "Entercom, CBS Combo Will Divest 14 Stations In 7 Markets"

    ENTERCOM and CBS CORP. have filed with the FEDERAL COMMUNICATIONS COMMISSION a series of applications on Form 314 and Form 315 to seek the FCC’s approval of the previously announced transactions to combine CBS RADIO with ENTERCOM in a merger which will occur after a split-off of CBS’s radio business to CBS stockholders through an exchange offer. The FCC Applications noted, among other things, that:

    LESLIE MOONVES, the Chairman of the Board/Pres./CEO of CBS, and JOSEPH R. IANNIELLO, COO of CBS, are proposed to be directors of ENTERCOM following the Merger. The filing notes, "As directors of ENTERCOM and officers of CBS, Messrs. MOONVES and IANNIELLO will have attributable interests in the television stations owned by CBS and the radio stations owned by ENTERCOM following the Merger. The FCC Applications include a request for a temporary waiver (not to exceed six months) of the FCC’s rules restricting radio-television cross-ownership for Messrs. MOONVES and IANNIELLO in not more than four markets for the limited period in which such individuals are expected to serve on the board of directors of ENTERCOM (prior to the Merger, Messrs. MOONVES and IANNIELLO will each agree to resign from the board of directors of ENTERCOM effective as of the earlier of (a) six months after closing of the Merger and (b) the day prior to the first annual meeting of ENTERCOM following closing of the Merger).

    The Merger is expected to result in ENTERCOM’s owning radio stations in seven markets in excess of the limits set forth in the FCC’s local radio ownership rule. In order to comply with the FCC’s local radio ownership rule, ENTERCOM has proposed to divest, in connection with the closing of the Merger, 14 radio stations which are located in the following markets:
    BOSTON
    LOS ANGELES
    SACRAMENTO
    SAN DIEGO
    SAN FRANCISCO
    SEATTLE
    WILKES BARRE-SCRANTON

  10. #70
    I don't know how much capital will be chasing these assets. With the current administration, it's not out of the question that an exception to ownership limits could be made.

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