Entercom Communications Corp., which is based in Bala Cynwyd, is boosting its presence in St. Louis with the $15 million acquisition of two radio stations from Emmis Communications Corp.
Entercom agreed to the $15 million in cash deal that includes FM News Talk 97.1 FM (KFTK) and NOW 96.3 (KNOW-FM), which join the company’s existing portfolio in the River City: 102.5 KEZK (KEZK-FM), News Radio 1120 KMOX (KMOX-AM) and Y98 (KYKY-FM), writes Jeff Blumenthal in the Philadelphia Business Journal.
The deal is subject to FCC approval. Entercom said it expects to close the transaction sometime in the second quarter. Beginning March 1, it will begin Local Marketing Agreements (LMAs) with the stations.
Indianapolis-based Emmis had announced last month that it had reached agreements to sell its four St. Louis stations, which include two being bought by Hubbard Radio. Terms of the deal were not disclosed at that time and Entercom had not commented until now.
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