ENTERCOM ANNOUNCES THE SIGNING OF A DEFINITIVE
AGREEMENT TO ACQUIRE RADIO STATION
WBEC-FM [WVEI-FM], IN SPRINGFIELD, MA
Bala Cynwyd, PA - February 17, 2006 - Entercom Communications Corp. (NYSE: ETM) today announced the signing of a definitive agreement to acquire radio station WBEC [WVEI], 105.5 FM, in Springfield, MA, from Great Northern Radio, LLC for $5.75 million. Entercom plans to simulcast WEEI-AM 850, Sports Radio Boston with some additional syndicated programming and play by play. The acquisition is subject to FCC approval, which is expected in the second quarter.
In 2004 Entercom launched a successful simulcast of WEEI-AM into Providence, RI bringing the best of New England sports talk programming to this region. The response from listeners and advertisers has been outstanding. WEEI AM also simulcasts in Worcester on WVEI, 1440 AM.
Julie Kahn, Vice President and MarketManager of Entercom Boston stated: "The WEEI program team is excited about extending coverage into the Springfield area. WEEI Sports Radio is one of the nation's truly unique radio stations and we know there is a great deal of interest in this market area for this programming."
Vice President of AM Programming for Entercom Boston, Jason Wolfe said, "To be able to take Dennis and Callahan, Dale and Holley, the Big Show and Mike Adams to the Springfield/Western Massachusetts area is another great step in our plans to expand WEEI's terrific brand. I am very excited about delivering outstanding Sports Radio to a whole new core of listeners."
Vox Radio Group is headed by Bruce Danziger, President and CEO; Jeffrey Shapiro is COO. Danziger commented that "it's a pleasure to have WBEC-FM continue the legacy of the WEEI tradition and join the Entercom Family".
Richard A. Foreman of Richard A. Foreman Associates, Inc, was exclusive broker in the transaction, representing Vox Radio Group.
Entercom is the nation's fourth largest radio broadcaster, with operations in Boston, Seattle, Denver, Sacramento, Portland, Kansas City, Indianapolis, Milwaukee, New Orleans, Norfolk, Buffalo, Memphis, Providence, Greensboro, Rochester, Greenville/Spartanburg, Madison, Wichita, Wilkes- Barre/Scranton and Gainesville/Ocala.