The deal includes Lincoln's radio stations in the Atlanta, Denver, Miami and San Diego markets. This brings expands Entercom's station portfolio to more than 130 stations in 26 markets.
Commenting on the agreement, Entercom President and CEO David J. Field stated: “We are excited to announce the acquisition of Lincoln Financial Media and welcome the addition of their outstanding brands and talented broadcasters to Entercom.
"LFM is a great organization that has done an excellent job serving its listeners, customers and communities over many years and we look forward to building on that tradition. LFM is a perfect fit for us as it bolsters our position in Denver and expands our footprint into Atlanta, Miami and San Diego with terrific brands that have significant growth potential. Furthermore, it fulfills our disciplined acquisition criteria as it enhances our company’s competitive position and growth and should be accretive to shareholders in 2015 while having a minimal impact on leverage.”
Entercom has filed to convert Lincoln Financial Media's holding companies into Delaware Limited Liability Company as Entercom Denver II, LLC, Entercom Atlanta License, LLC, Entercom Miami License, LLC and Entercom San Diego License, LLC, effective immediately upon closing.
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