An important swap facilitated by Entercom Communications‘ tax-free merger with CBS Radio is now complete, as Entercom and Beasley Broadcast Group have finalized the exchange of FM radio stations in the Boston market.
With the closing of the asset swap and cash payment, Beasley adds another Sports property to its stable while parting ways with a station long associated with Greater Media, which Beasley acquired in 2016.
“The addition of WBZ-FM to our broadcast portfolio highlights Beasley’s focus on premium local programming and content and is complementary to our five other radio stations and digital operations in the Boston market,” said Beasley CEO Caroline Beasley. “The addition of WBZ-FM to our portfolio … strengthens our company’s presence and commitment to locally originated content in the Boston market. This transaction further diversifies our Boston market content offerings with marquee sports programming and live game broadcasts of several of the most prominent and competitive professional sports teams in the country.”
Ms. Beasley added that the asset exchange is expected to be accretive to her company’s financial results “and represents another unique and innovative means for Beasley Broadcast Group to enhance shareholder value.”
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