PHILADELPHIA, PA – February 23, 2018 – Entercom Communications Corp. (NYSE: ETM) today announced a definitive agreement to acquire two radio stations in St. Louis, MO from Emmis Communications Corporation (Nasdaq: EMMS) for $15 million in cash. The transaction includes FM News Talk 97.1 FM (KFTK) and NOW 96.3 (KNOU-FM) and is subject to FCC approval.
The acquisition provides Entercom with a growing position in the St. Louis market while strengthening the Company’s existing portfolio in the River City that includes 102.5 KEZK (KEZK-FM), News Radio 1120 KMOX (KMOX-AM) and Y98 (KYKY-FM).
“This is an exciting move to complement our strong portfolio in St. Louis,” said David Field, Chairman, President and CEO of Entercom. “The transaction is part of our broader strategy to continue growing Entercom’s robust roster of brands across the country and to provide the best-in-class local marketing solutions at national scale that our advertising partners expect from us.”
Additionally, Entercom today announced the appointment of Becky Domyan as Senior Vice President and Market Manager of Entercom St. Louis, effective March 1. In this role, Domyan will oversee the operations for Entercom’s entire portfolio in the St. Louis market. Domyan previously served as Director of Sales and General Sales Manager at Emmis. She has over 12 years of experience in radio across various roles including General Sales Manager and Account Executive. Domyan is a graduate of the University of Missouri Trulaske College of Business.
Local Marketing Agreements (LMAs) of the stations will begin March 1. The final transaction is expected to close by the second quarter of 2018.
About Entercom Communications Corp.
Entercom Communications Corp. (NYSE: ETM) is a leading American media and entertainment company reaching and engaging over 100 million people each week through its premier collection of highly rated, award winning radio stations, digital platforms and live events. As one of the country’s two largest radio broadcasters, Entercom offers integrated marketing solutions and delivers the power of local connection on a national scale with coverage of close to 90% of persons 12+ in the top 50 markets. Entercom is the #1 creator of live, original, local audio content and the nation’s unrivaled leader in news and sports radio. Learn more about Philadelphia-based Entercom at www.entercom.com, Facebook and Twitter (@Entercom).