Bala Cynwyd's Entercom And CBS Radio Complete Merger

BALA CYNWYD, PA -- Entercom Communications Inc. and CBS Radio Inc. completed their merger Friday. The move makes Entercom the No. 2 radio operator in the U.S., only behind iHeart Radio, according to The Philadelphia Inquirer.

Both CBS Corp. and Entercom will cut costs as part of the deal, despite the latter now sharing 244 radio stations with the media giant.

“The separation of our radio business is part of a broader strategy to
make CBS even more focused on our content and all the ways we can
monetize it,” said CBS Corp. Chairman and CEO Leslie Moonves.

For more on this story, see The Philadelphia Inquirer.