InsideRadio reports it will be Entercom’s show to run with three of the top management positions to be occupied by existing Entercom brass.
Entercom CEO David Field will continue in that position after the outsized deal closes. Likewise, new CFO Richard Schmaeling, who replaced Steve Fisher at Entercom on April 18, will remain in that post.
A newcomer to the radio business, Schmaeling will be “responsible for integration of Entercom and CBS Radio, including synergy realization,” Entercom said Tuesday in a filing with the Securities and Exchange Commission. That “synergy realization” includes figuring out how to cut $25 million in costs from the balance sheet within 12-18 months after the merger closes, most of which is expected to come from eliminating redundant corporate positions.
Entercom’s Andrew Sutor will continue as senior VP, general counsel & secretary. But Entercom hasn’t said who will be COO of the combined company, other than that the appointment will “be determined by Entercom.” Both existing COO Louise “Weezie” Kramer, who is under contract to Entercom through the end of 2018, and current CBS Radio COO Scott Herman, are presumably contenders for the post. Of course the company could retain both as coCOOs or in some other capacity.