By M.A. Clark
After announcing a merger creating one of the largest radio station groups in the country, CBS Radio and Entercom Corp. have become one.
Entercom is the owner and operator of 106.3 FM WORD, B 93.7 FM, Classic Rock 101.1 FM, Magic 98.9 FM, 93.3 The Planet, ESPN Upstate, and The Block in the Upstate.
The merger with CBS Radio makes Entercom the owner of 235 radio stations in 48 markets across the country, including 23 of the top 25 markets.
While the merger creates a wider footprint for Pennsylvania-based Entercom, company COO Weezie Kramer said listeners will only continue to get the content and programming they have been accustomed to.
“Our plan is to continue to deliver the top-rated content that our listeners have come to expect from us,” Kramer said. “Now, being one of the country’s two largest radio broadcasters means more access to cool content and experiences that benefit both our listeners and our advertising partners.”
Kramer said the merger will open up the company’s sports platform as Entercom now owns the rights to 45 professional teams like the New York Yankees, the Boston Red Sox, the Chicago Cubs, the New England Patriots, the Atlanta Falcons, and the Golden State Warriors. Entercom Upstate has the broadcasting rights to the Clemson Tigers and the Carolina Panthers.
“We have more than 40 professional team deals in all of the four major sports and numerous college athletic programs, and we own the CBS Sports Radio Network with syndicated content that airs over 300-plus stations,” Kramer said. “This is a huge opportunity to tap into the local sports fan, and only Entercom can do that.”
The biggest change, Kramer said, will be in the addition of potential advertising opportunities as the Entercom reach stretches from Anchorage, Alaska, to Gainesville, Fla. Kramer said the company now has “that local connection with national scale.”
“Our new scale with our hyperlocal approach allows for a major national retailer to customize their nationwide offering to fit the needs and lifestyle of the consumers in Upstate,” Kramer said. “This is a very interesting proposition for national clients, especially if it’s one-stop shopping with multiplatform opportunities, like digital, events, and other on-the-ground activations in local markets.”
Entercom did divest itself of 16 radio stations in Boston, San Francisco, Sacramento, and Seattle to meet regulatory approval.
The transaction was completed after the exchange offer for CBS shareholders to swap shares of CBS Class B common stock for shares of CBS Radio expired. CBS Radio shares automatically converted to Entercom shares.
“We look forward to capitalizing on our unique positions in sports, news, music, podcasting, live events, digital, and more to provide outstanding experiences for our listeners and compelling integrated marketing opportunities for our advertisers,” said David Field, president and CEO of Entercom Corp., in a news release.
Field remained president of the new company while former CBS Radio president Andre Fernandez served in that role until the merger was complete.
