Beasley Media Group has closed on its $240 million acquisition of Greater Media Inc.
Caroline Beasley, interim CEO and chief financial officer, sent a letter to staff that was made public.
“This transaction joins two family-founded companies that have always taken great pride in serving our communities into a brand new, multi-platform broadcast and digital company that will expand our united presence in the radio industry,” she wrote.
“We will be working together to significantly broaden our reach, our scale and our revenue base.”
Beasley becomes a top-10 U.S. commercial radio group based on revenue, and it now has about 70 stations in 16 markets. It first had to divest itself of some assets to clear FCC local-market ownership rules; as we reported in October, Entercom Communications is buying four radio stations in Charlotte from the company, including three that had been owned by Greater Media.
Beasley Will Grow to No. 6 U.S. Radio Company (or maybe No. 9)