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CBS president Les Moonves said a year ago that the company was looking for a buyer for its radio division, as it the radio industry continued to struggle with weak advertising sales.
Financial terms of the deal, expected to close in the second half of this year, were not released.
Four Pittsburgh stations, including landmark KDKA-AM, are part of the deal.
Vancouver mosque hosts Quebec shooting vigil
President Donald Trump also spoke to Trudeau by phone Monday to offer his condolences to all Canadians in the wake of the deaths. Trustee Haroon Khan says a handful of people gathered at the mosque last night, once the news broke about the shooting.
Entercom President and CEO David J. Field will lead the combined company. After the exchange, CBS Radio will merge with an Entercom subsidiary and CBS Radio shareholders will receive 72 percent of outstanding Entercom shares, about 105 million shares.
CBS is around three times the size of Entercom, and CBS investors, including JPMorgan and the Vanguard mutual funds, will hold of most shares in the combined company.
The tax-free merger will form a company with a nationwide footprint of 244 stations, including 23 of the top 25 US markets, and a growing events platform. "Entercom is a superbly run company, and together with CBS Radio's powerful brands and remarkable people, we are creating an organization that will be even better positioned to succeed in this rapidly evolving media landscape".
Changes could soon be coming to the ever-tempestuous Boston sports talk radio scene.
According to CBS, the deal is created to be tax-free to CBS shareholders through a complex process known as a reverse Morris trust, which begins with an offer to existing CBS Corp. shareholders to exchange their stock for shares in the enlarged Entercom.
On average, analysts predict that Teva Pharmaceutical Industries Limited will post $5.12 earnings per share for the current year. Teva Pharmaceutical Industries Limited (NYSE: TEVA ) last announced its quarterly earnings results on Tuesday, November 15th.
In July, a woman who got out of her vehicle at Bandaling Wildlife World in Beijing and was dragged away by a tiger and killed. Mr Zhang, 40, paid for his family to enter the Ningbo Youngor Zoo in Zhejiang province on Sunday, which charges £15...
As of 2015, the rosters have been split between global and American players with both rookies and sophomores dispersed throughout. Exum has average 19.5 minutes over 33 games, including starts, mostly while starting point guard George Hill was injured.
After more than a decade of downsizing, Delta Air Lines is growing at Cincinnati/Northern Kentucky International Airport. Frontier officials will be at Cleveland Hopkins this afternoon to celebrate the new service announcement.
The coming months and years will see the eruption of social opposition to the destruction of public education. Barnes and her husband have already called their representatives in Congress, urging a no vote on DeVos.
According to PWInsider , the full list of NXT stars scheduled to be backstage this Sunday is, well ... all of them. Smith explained what he loved about professional wrestling and asked how it compares to what WWE is doing today.
An average of 158 million people use the Snapchat app on a daily basis, and they create 2.5 billion snaps a day. Last year, Snap posted revenues of $404.5 million but also a hefty net loss of $514.6 million.
Sessions, who last February became the first senator to endorse Trump, has always been known for hard-line views on immigration. President Trump has taken to Twitter in the last 24 hours to express his frustration about the Democrat delay.
She could and did convey pluck and can-do spirit, of course - "You've got spunk", TV boss Lou Grant famously told Mary Richards . Carl Reiner has revealed he spoke to the husband of his long-time friend and colleague Mary Tyler Moore the day before she died.
The Flash has a July 27, 2018 release date also starring Kiersey Clemons as Iris West and Billy Crudup as Henry Allen. WB provided no comments on the news, but the recent hire signifies that The Flash is a high priority for the studio.
Between 2004 and 2007 she competed in only six tournaments because she couldn't afford to travel to matches to further her career. Mirjana Lucic-Baroni sank to her knees, made the sign of the cross and offered up a prayer of thanks for her victory.
DE union lawyer says inmates have 5 hostages
An aerial view of the prison showed about two dozen men standing in three groups on an open space of prison's sprawling campus. There was an assault at the same prison last week, on Saturday, an inmate squirted an unknown liquid at a correction officer.
Jallikattu: Supreme Court raps TN for stir, clears the new law
Attorney General Mukul Rohatgi had last week informed the Supreme Court that the Centre would withdraw its earlier notification. The bench said, "Tell your government that law and order is primacy in civilized society and we can't tolerate such incidents".
'Amour' actress Emmanuelle Riva dies at 89
Emmanuelle Riva, a French star of screen and stage who was nominated for an Academy Award for best actress in 2013, has died . Riva was born on February 24, 1927 in rural France and made her way to Paris at 19 to the dismay of her working-class family.
Trump and Putin want 'coordination' against IS
In a separate interview on Fox & Friends, Conway said the call could include discussions on removing Russian sanctions. If this is all part of President Trump's vow to make American foreign policy less predictable it seems to be working.
German prosecutors probing former VW CEO for fraud
The prosecutor's office also said the number of people being investigated in this fraud case had increased from 21 to 37. Winterkorn ran the German group for more than eight years, ending his time as Germany's highest-paid CEO.