In addition to Entercom's WEEI sports radio and CBS's 98.5 The Sports Hub, other Boston stations in the deal include CBS's news AM powerhouse WBZ, Mix 104.1 FM, and WZLX 100.7 FM.
The final pricetag on the deal for CBS is unclear, but the Eye intends to use the proceeds to buy back CBS Corp. shares.
Former refugee Loul Deng speaks out on Trump's travel and immigration ban
Following the Lakers' win against the Denver Nuggets, Deng spoke to media for the first time since the executive order was signed. Luckily, Deng whose family eventually settled in the United Kingdom after escaping Sudan as refugees, is from South Sudan.
If given the OK, the new entity would become the second-largest radio station owner in the US, based on combined revenue in 2016. Entercom Chief Executive David Field will lead the combined company.
CBS and Entercom say that their combined radio business will own 244 stations across the United States, and will be the country's second biggest radio broadcaster by revenue. They will operate under the Entercom name, with a corporate headquarters in Philadelphia.
Two suspects arrested after Quebec mosque shooting kills six, injures eight
Meantime, Quebec police say the situation is under control, tweeting "mosque premises secured, occupants have been evacuated". The CBC reported that somone left a pig's head on the mosque's doorstep this past June, during the holy month of Ramadan.
The tax-free merger was made possible through the Reverse Morris Trust transaction, where a parent company merges into a spin-off group. After completion of the merger, CBS Radio shareholders will receive approximately 105 million Entercom shares, or 72% of all outstanding shares of the combined company on a fully diluted basis.
The deal is expected to be completed in the second half of this year and expected to be tax-free for New York-based CBS and its shareholders. According to CBS, the deal is created to be tax-free to CBS shareholders through a complex process known as a reverse Morris trust, which begins with an offer to existing CBS Corp. shareholders to exchange their stock for shares in the enlarged Entercom.
New Game of Thrones Story Included in Fantasy Anthology Released in 2017
Season 7 of the HBO series - in which the storyline has progressed past what happens in the books - is due out in mid-2017. Cherryh, and Elizabeth Bear are some of the contributing authors. "I thought the same thing a year ago .