Bala Cynwyd’s Entercom Communications has agreed to buy four radio stations in North Carolina from the Beasley Broadcast Group and in a separate agreement, is refinancing its entire senior and senior unsecured debt, writes Jeff Blumenthal for Philadelphia Business Journal.

The Four radio stations that the company will acquire as part of its deal with Beasley are The Fan (WFNZ-AM), The Link (WLNK-FM), WBT AM/FM, and WFNZ-AM.

Entercom expects the deal to be finalized by early next year and will strengthen its existing Carolina presence.

“We had conversations with Beasley and we were looking for ways to create value,” said David Field, Entercom’s CEO.

The company is also planning to restructure its debt with a new senior secured credit facility of $520 million. This will be composed of a five year $60 million revolving credit facility and a $460 million seven year B-term loan.

Entercom stated it will use the proceeds from the debt offering to refinance its current $225 million in senior secured bank debt and call-in its $220 million in 10.5 percent senior subordinated notes.

Read more about latest Entercom moves at Philadelphia Business Journal by clicking here.