Bonneville, Entercom Swapping Stations To Settle DOJ Antitrust Complaint
Entercom is trading four Denver-area radio stations to Bonneville International in exchange for one in Los Angeles and $5 million, to satisfy Department of Justice conditions on Entercom's purchase of Lincoln Financial Media. Being traded to Bonneville are Entercom's KOSI(FM)…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
Denver and Lincoln Financial's KYGO(FM) Denver, KKFN(FM) Longmont and KEPN(AM) Lakewood. Entercom will pick up KSWD(FM) Los Angeles from Bonneville. The stations will change hands once the Lincoln Financial acquisition closes, Entercom said in a Tuesday news release. That swap will end DOJ Hart-Scott-Rodino Act review of the acquisition -- a review that had focused on how the deal would affect the Denver radio market. The stations currently owned there by Entercom and Lincoln have among the highest ratings in the market, and the Lincoln sale would have meant higher radio advertising prices and lower quality service there, DOJ said. Its Antitrust Division sued Entercom Tuesday in U.S. District Court in Washington to block the Lincoln sale, while simultaneously filing a proposed settlement. The $105 million Lincoln acquisition and the Entercom/Bonneville trades are expected to take place within days, Entercom said.