Brief: Urban One Signs Asset Exchange Agreement With Entercom Communications

Urban One

06/11/2020 01:22

Nov 5 (Reuters) - Urban One Inc  UONEK.O :
    * URBAN ONE ENTERS INTO EXCHANGE AGREEMENT WITH ENTERCOM
THAT WILL
EXPAND URBAN ONE'S REACH INTO THE GENERAL MARKET IN CHARLOTTE,
NORTH CAROLINA
    * IT HAD SIGNED A DEFINITIVE ASSET EXCHANGE AGREEMENT WITH
ENTERCOM COMMUNICATIONS CORP
    * DEAL EXPECTED TO CLOSE IN Q1 OF 2021
    * URBAN ONE - WILL RECEIVE CHARLOTTE STATIONS, WLNK-FM
(ADULT
CONTEMPORARY); WBT-AM & FM (NEWS TALK RADIO); AND WFNZ-AM &
102.5 FM TRANSLATOR
    * ENTERCOM WILL CONTINUE TO CARRY SOME OF REACH MEDIA'S
SYNDICATED
PROGRAMMING
    * URBAN ONE-AS PART OF DEAL URBAN ONE WILL TRANSFER THREE
RADIO
STATIONS TO ENTERCOM: ST. LOUIS, WHHL-FM, PHILADELPHIA, WPHI-FM;
WASHINGTON, DC, WTEM-AM
    * URBAN ONE AND ENTERCOM WILL BEGIN OPERATING STATIONS ON
NOVEMBER
23, 2020, UNDER A LOCAL MARKETING AGREEMENT

Source text for Eikon:  ID:nPn9D8JWya 
Further company coverage:  UONEK.O 

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