The all-news KRLD-AM (1080) and sports radio "The Fan" KRLD-FM (105.3) are also part of CBS Radio as are "Jack FM" KJKK-FM (100.3), an adult hits station, KMVK-FM (107.5), a regional Mexican station, and KVIL-FM (103.7), which plays adult contemporary music.
Entercom and CBS Radio, respective parent companies of WEEI and 98.5 The Sports Hub, announced a merger Thursday.
The merger supersedes CBS Corp.'s previous plan to spin off CBS Radio as an independent company. Kramer said she was sacked up about this opportunity (she worked at CBS Radio for 10 years before coming to Entercom) and Herman said he can't imagine a better fit, adding, these Entercom markets were once part of the CBS group.
The tax-free merger will form a company with a nationwide footprint of 244 stations, including 23 of the top 25 USA markets, and a growing events platform.
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Field, president and CEO of Entercom (NYSE: ETM), will lead the combined company.
On a revenue basis the companies claim the merger will make them the second-largest company, with revenues of around $1.7 billion over the last 12 months, compared to around $3.36 billion for iHeartMedia in the 12-month period ending September 2016, and $1.15 billion for Cumulus over the same period.
Call letters won't change as a result of the tax-free merger, the release said, and the move awaits approval from Entercom shareholders.
"This agreement is great for shareholders and achieves our previously stated objectives by separating our radio business in the best possible way", said Leslie Moonves, chairman and CEO of CBS.
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