Entercom Spins KSWD (100.3 The Sound)/Los Angeles, KSOQ/San Diego, WGGI/Scranton To Educational Media Foundation

Spins

ENTERCOM is divesting three stations in preparation for its merger/takeover of CBS RADIO, spinning Classic Rock KSWD-F (100.3 THE SOUND)/LOS ANGELES, Country KSOQ (KSON simulcast)/ESCONDIDO (North County SAN DIEGO), and Country WGGI (FROGGY 101 simulcast)/BENTON-SCRANTON-WILKES BARRE to EDUCATIONAL MEDIA FOUNDATION for an undisclosed price. MVP CAPITAL, LLC was the financial adviser to ENTERCOM for the deal.

“We have made great progress towards the completion of our merger with CBS RADIO, and this agreement with EMF brings us one step closer to the finish line,” said ENTERCOM President/CEO DAVID FIELD. “We remain on track to close the CBS RADIO transaction later this year and confident in the value-creating opportunities presented by this transformational combination.”

EMF CEO MIKE NOVAK added, “We are particularly excited to see what GOD has in store for the people of LOS ANGELES, through our new station, Positive & Encouraging K-LOVE at 100.3 FM. The people at ENTERCOM have been a joy making this purchase possible.”

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