Entercom Communications Merges with CBS Radio
February 08, 2017
Dechert LLP advised the independent directors of Entercom Communications Corp, an American broadcasting company, in a tax free merger with CBS Radio Inc., a radio broadcasting company owned by CBS Corporation.
Entercom is the fourth-largest radio company in the United States with more than 125 radio stations across 27 media markets. This transaction will increase the national reach to 244 stations within 23 of the top 25 U.S markets. The merger is presumed to make the companies the second-largest radio station owner in the United States, with a market cap of over US$2 billion. The transaction is expected to close in the second half of 2017.
The Philadelphia-based Dechert team advising the independent directors of Entercom included corporate partners Henry Nassau and Ian Hartman, along with associate Ross MacConnell.
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