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Entercom Communications Corp., the Bala Cynwyd radio chain founded by Joseph Field and run by his son David, is merging operations with CBS Corp.'s radio stations in a tax-free deal, the companies said today.
The deal, subject to regulatory approvals and a vote by Entercom's board, is expected to close in the second half of the year.
The all-news KRLD-AM (1080) and sports radio "The Fan" KRLD-FM (105.3) are also part of CBS Radio as are "Jack FM" KJKK-FM (100.3), an adult hits station, KMVK-FM (107.5), a regional Mexican station, and KVIL-FM (103.7), which plays adult contemporary music.
10 still detained at JFK airport under immigration ban
Canada's WestJet Airlines said it turned back a passenger bound for the U.S. on Saturday in order to comply with the order. In Washington, agencies charged with handling immigration and refugee issues grappled with how to interpret the measure.
Field, president and CEO of Entercom (NYSE: ETM), will lead the combined company.
Existing CBS shareholders will be allowed to exchange shares for CBS Radio shares. The complex merger agreement that will leave CBS shareholders with 72% of the enlarged Entercom is said to have come together in the past few weeks.
Radio giant Entercom, the parent company of sports talk radio WEEI, has bought its arch-rival The Sports Hub, WBZ-AM and other CBS Radio stations, the Herald reported.
Don't vote for those fighting their last polls: Kejriwal
While his address was focused on farmers, PM Modi did not lose the chance to take the jibes on Aam Aadmi Party (AAP) and Congress. SAD president Sukhbir Badal called Punjab Congress chief Capt Amarinder Singh a hankari (arrogant) raja.
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.
The combined company will have post-merger revenue of $1.7 billion and cash flow of almost $500 million.
CBS had been pursuing a separation of its radio unit in some form.
Star Wars Episode 8 gets a name: The Last Jedi
The Star Wars red font choice is also interesting, as the logo has usually stuck with a yellow-colored font since the beginning. Star Wars fans were in a state of excitement today as the franchise gave them their first taste of the next film in the series.
The combined companies will be the #2 US radio station group with 244 stations in most big-city markets bringing $1.7 billion a year.
In spite of general party unity, some Republican senators cast their vote to move DeVos forward with stated apprehension. In rural areas, options like charter schools and vouchers are typically not available to students, Murkowski noted.
Departments like Health and Human Services and Treasury will have to issue policies that embody the new president's wishes. President Donald Trump signs his first executive orders in the Oval Office in Washington, D.C. on January 20.
It is a highly sensitive situation, not to mention complicated, though not everyone involved is against what Zuckerberg is doing. He continued: 'For most of these folks, they will now receive money for something they never even knew they had.
Riva portrays Anne Laurent, a retired piano teacher who suffers a series of strokes that summarily rob her of herself. She will appear on the big screen in Paris Pieds Nus (Paris Barefoot), released in March.
Relations between Russian Federation and the West countries have deteriorated in 2014 in connection with the situation in Ukraine. If Trump's going to end that punishment, Russian Federation should make a "unilateral" concession or concessions of its own.
It forms the most important launch title for the Nintendo Switch , but on the same day the Wii U version will be released. That game will be the last one Nintendo will ever release for the Wii U , capping the console with a wonderful coda.
It suggests that for long term benefit, real estate should be brought under GST so that tax revenues from this sector increases. The survey said government pay rises and muted tax receipts could put pressure on the fiscal deficit in the coming fiscal year.
Forward collision warning (FCW): A system that warns the driver of an imminent frontal collision with audible and visual warnings. It was a major victory for Tesla, and one that saved the company from having to issue a massive recall on the systems.
One boy who identified himself as Edoardo said he had been one of three children trapped, along with one woman, in the same room. The force of the snow reduced much of it to rubble and spread debris across the valley floor.
Corrections Officers Held Hostage In Smyrna
Hicks did not comment on who is being held hostage but The Associated Press reported that prison guards were taken hostage. A department sharpshooter ended the standoff by shooting and killing 45-year-old Scott Miller, according to the report.
Senators meet to approve U.S. attorney general Jeff Sessions
Tempers flared in the usually decorous Senate as the Judiciary Committee weighed a vote on attorney general nominee Jeff Sessions. Feinstein declared "no confidence" that Sessions would "uphold our laws and civil liberties as attorney general".
Tickets Expensive as Pro Bowl Returns to Mainland
The NFC's team of Thomas Davis, Gerald McCoy, Jason Kelce and Ezekiel Elliott then stepped in and beat them with 28.7 seconds. The fourth event was the Precision Passing competition, which required quarterbacks to hit multiple moving targets.
J&J Boosts Drug Roster With $30B Actelion Deal
The transaction is expected to close by the end of the second quarter, with J&J commencing the tender offer by mid-February. However, Johnson & Johnson withdrew from the discussions in mid-December, and Sanofi approached Actelion about a deal.
Boeing Unveils Starliner Spacesuits
During the test, Hopkins and Ferguson got into a mockup version of the Starliner spacecraft to test the suit's mobility. The gas intact and output valves are located on the abdomen of the suit for easy access where they are needed the most.
Etihad CEO Hogan to quit as carrier struggles with investments
In December previous year , Etihad Airways said it was cutting jobs in some parts of its business as a part of its restructuring. Last month, Etihad Airways unveiled plans to create a new European leisure airline group in a joint venture with TUI AG.
Tommy Fleetwood takes Abu Dhabi title
Tommy Fleetwood admitted it was good to see his persistence pay off after winning on Sunday at the Abu Dhabi Championship. Fleetwood birdied two of his final three (including the last) for the win. "I just didn't roll any putts in".