Bala Cynwyd’s Entercom is following up on the CBS Radio deal with the acquisition of a 45 percent stake in podcast sales and distribution company, Dgital Media, writes Lucas Shaw for Bloomberg Technology.

The $10 million investment is part of Entercom’s plans to improve its broadcasting services that will add further stations once the merger with CBS Radio has been fully completed. The Dgital deal is expected to close later this year.

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With the acquisition of CBS, David Field, Entercom’s president and CEO, has transformed the media company into the nation’s second largest radio broadcaster. But this is just the start of a much bolder plan to turn Entercom into a national powerhouse with more than 243 stations nationwide.

“Our frustration has always been lack of scale,” said Field. “We were always limited by the scope and scale of the operation.”

He also said that adding podcasting to the mix will fit perfectly into what he is trying to achieve.

“Say Bill Clinton wants to do a podcast,” explained Fields. “Imagine being able to put five minutes of a Clinton podcast in that local show.”

Read more about Entercom’s future at Bloomberg Technology by clicking here.

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