Friday, May 4, 2018
Entercom Takes Equity Position In U-S Traffic Network
The new deal includes an equity position for Entercom in USTN. Further terms of the transaction were not disclosed.
“We are thrilled to continue our partnership with Entercom and look forward to their new role as an equity-holder as we continue to build out the new face of U.S. Traffic Network,” said Ivan Shulman, Chairman and CEO, USTN.
“Involving media groups at an equity level is an unprecedented move in the industry, and we couldn’t be more excited about our prospects for the future. As one of the largest radio companies in the United States, Entercom is and will remain an invaluable part of our company, and this partnership is just the first step in revolutionizing the broadcast traffic industry.”
“We are pleased to announce our new partnership with USTN”, said David Field, President and CEO of Entercom. “Their new management team has moved quickly to fix their issues and establish a solid business model following the company’s separation from its former corporate parent. We look forward to participating in their future growth as they capitalize on the significant opportunities in this attractive market segment.”
Posted 3:41:00 AM