Monday, August 21, 2006

CBS Sells Radio Stations In Four Markets To Entercom

Entercom says buying CBS radio stations
NEW YORK, Aug 21 (Reuters) -

Radio broadcaster Entercom Communications Corp. said on Monday it will buy radio stations in four markets from CBS Corp. for $262 million, underscoring CBS' strategy to sell stations in slower markets.
Entercom agreed to buy stations from CBS in Austin, Texas; Cincinnati, Ohio; Memphis, Tennessee; and Rochester, New York.
In addition to growing competition from iPods and satellite radio, the CBS radio division has struggled from the departure of shock jock Howard Stern to Sirius Satellite Radio in January...read more: HERE

CORRECTION: Thanks T.W.

Entercom has purchased 15 radio stations in four markets from CBS Radio, and one Boston outlet from Radio One, which it will simulcast its active rock WAAF, Worcester signal.

.....also citidel is asking to change the disney deal due to the drop in the stock price based on the disney stations poor performance