Entercom Communications will acquire Lincoln Financial Media, including six Denver radio stations, for $105 million, plus working capital, in a transaction with major implications for the Denver market.
“It is too early in the announcement timeline to speculate on any impact or to talk about employees leaving the company,” Entercom spokesman Greg Kaufman said.
Lincoln Financial Media’s Denver holdings are country station KYGO (98.5); sports-formatted KEPN (The Zone, 1600 AM) and KKFN (The Fan, 104.3 FM); R&B and hip-hop station KQKS (KS107.5 FM); oldies station KRWZ (Cruisin’ Oldies 950 AM); and KYGO-HD2, which carries an all-comedy format on 103.1 FM.
The agreement, expected to close during the second quarter of 2015, requires FCC approval. It will expand Entercom’s portfolio to more than 130 stations in 26 markets. In a note to staffers, LFM chief Don Benson said Entercom will begin operating the stations under a time-brokerage agreement on Jan. 16.
Entercom — which owns KALC (Alice 105.9 FM), KOSI (101.1 FM), KEZW (Studio 1430 AM) and KQMT (The Mountain, 99.5 FM) in Denver — said it will have to divest one FM station in Denver. It is unclear which station that will be.
