Beasley, Entercom Get Busy In Boston
Beasley Broadcast Group, Inc. has also entered into an asset exchange agreement with Entercom Communications Corp., whereby Beasley will exchange AC WMJX (Magic 106.7)/Boston and $12 million cash for WBZ-FM (98.5 The Sports Hub). Entercom will begin operating WMJX-FM via LMA upon the completion of its pending merger with CBS Radio.
Commenting on the proposed transaction, Caroline Beasley, Beasley Chief Executive Officer said, “Throughout Beasley Broadcast Group’s 56-year history, we have actively managed our station portfolio with the goal of serving the communities where we operate with the best local programming and brands, diversifying our operations, managing risk and improving financial results. The agreement to add WBZ-FM to our portfolio addresses all of these strategic objectives as, upon completion, we will complement our already strong Boston market presence and content with the market’s best and most listened-to professional sports programming.”
Ms. Beasley added, “Not only is The Sports Hub the flagship station for the New England Patriots, the Boston Bruins, the Boston Celtics and the New England Revolution, but it also features an outstanding line-up of on-air talent to keep Boston sports fans on top of all of their favorite teams every day, at any time and on any device.” The transaction is expected to close in the first quarter of 2018, subject to FCC approval and other customary closing conditions.
