CBS RADIO announced it has signed a definitive agreement with Beasley Broadcast Group, Inc. to swap 13 stations in Tampa and Charlotte, as well as one AM station in Philadelphia for two FM stations in Philadelphia, and three stations in Miami.
As a result of the swap, CBS RADIO will for the first time have a presence in Miami, the nation’s 11th-largest radio market. CBS already owns two television stations in the market, WFOR-TV and WBFS-TV. Upon completion of the transaction, CBS RADIO will operate WKIS-FM (Country), WPOW-FM (Top 40) and WQAM-AM (Sports). Furthermore, the division will increase its presence in Philadelphia to six stations with the addition of WRDW-FM (Top 40) and WXTU-FM (Country). Philadelphia is the nation’s eighth-ranked radio market.
“This transaction reinforces our strategy to concentrate on large market properties,” said Dan Mason, President and CEO, CBS RADIO. “We already have television duopolies in both Philadelphia and Miami, so these new stations will be a terrific complement to our existing local broadcasting portfolio, and a welcome addition to the overall CBS family.”
Beasley will obtain the following stations from CBS RADIO:
The transaction is subject to customary conditions, including regulatory approvals.