It’s been a foregone conclusion that Bonneville International Corp. would be acquiring the eight radio stations it is already operating via a Local Marketing Agreement with Entercom Communications in two Northern California markets.
Entercom pulled the trigger on the sale of the eight stations in these cities late Friday (8/3).
The price Bonneville is paying is $141 million.
The stations have been held in an FCC disposition Trust and have been operated by Bonneville since the closing of Entercom’s absorption of CBS Radio.
The stations Bonneville is officially acquiring are:
|San Francisco||KMVQ-FM||Top 40|
|San Francisco||KBLX-FM||Urban Adult Contemporary|
|San Francisco||KOIT-FM||Adult Contemporary|
|San Francisco||KUFX-FM||Classic Rock|
|Sacramento||KZZO-FM||Hot Adult Contemporary|
The transaction is expected to close in late Q3 or early Q4 2018.
The deal completes the dispositions required by the U.S. Department of Justice in connection with Entercom’s Reverse Morris Trust-fueled merger with CBS Radio.