Entercom Communications Corp. has reached an agreement to complete the sale of eight radio stations in San Francisco and Sacramento to Bonneville International Corp. for $141 million in cash.

Bonneville has been operating the stations under a local marketing agreement since Bala Cynwyd, Pa.-based Entercom closed its November 2017 acquisition of CBS Radio, writes Jeff Blumenthal at bizjournals.com.

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This transaction, which is expected to close this year either late in the third quarter or early in the fourth quarter, will complete the dispositions required by the U.S. Department of Justice’s antitrust division in connection with the $2.4 billion CBS deal.

Before the Federal Communications Commission and DOJ would approve CBS deal last fall, Entercom agreed to divest 19 stations in seven different markets. The divestitures were necessary because Entercom would have owned stations in those markets in excess of the limits set forth in the FCC’s local radio ownership rule.

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