BONNEVILLE INTERNATIONAL ACQUIRES 4 DENVER RADIO STATIONS IN EXCHANGE AGREEMENT WITH ENTERCOM COMMUNICATIONS.
Jul 14, 2015
Bonneville to Exchange Los Angeles Station KSWD-FM for 4 Stations in Denver
SALT LAKE CITY, UT July 14, 2015 – Bonneville International, announced today that it has entered into an exchange agreement with Entercom Communications Corp. (“Entercom”) (NYSE: ETM). Entercom will exchange four stations in Denver, Colorado for Bonneville’s Los Angeles Classic Rock station KSWD-FM (“The Sound”).
The stations Bonneville will acquire as part of the agreement are: KOSI-FM, KYGO-FM, KKFN-FM and KEPN-AM. In Denver, Entercom owns KOSI-FM and is acquiring the other stations through a transaction with Lincoln Financial Media. Bonneville and Entercom will begin operating the stations under time brokerage agreements once the LFM transaction is completed. Closing of the Bonneville/Entercom exchange is subject to FCC approval and other customary closing conditions. Bonneville expects this transaction to close by the fourth quarter of 2015.
“Denver is a vibrant, growing area where we see great opportunity. The stations we are acquiring are legacy brands and provide a powerful cluster in this market. They align well with our existing portfolio, allowing us to expand our regional footprint,” said Darrell Brown, President of Bonneville. “Bonneville’s core mission is building and lifting the communities where we own broadcast properties. We have a commitment to provide quality sports, news and entertainment products and are thrilled to serve the Denver market.”
The newly acquired Denver stations will join existing Bonneville stations in Seattle (KIRO-FM, KTTH & 710 ESPN), Phoenix (KTAR-FM, KMVP-FM & ESPN 620) and Salt Lake City (KSL TV-NBC, KSL NewsRadio-AM/FM, KSFI-FM & KRSP-FM).
About Bonneville International Corporation
Bonneville International is a legacy broadcaster dedicated to informing, entertaining and uplifting its audiences. Founded in 1964, Bonneville currently owns and operates 15 radio stations and one TV station. Headquartered in Salt Lake City, Bonneville is a subsidiary of Deseret Management Corporation, a for profit arm of The Church of Jesus Christ of Latter-day Saints. For more information about Bonneville International, please visit www.bonneville.com.