Salt Lake City-based Bonneville International will buy eight Entercom radio stations for $141 million, pending FCC approval, the company announced Friday.
The San Francisco stations are: KMVQ(FM), KBLX(FM), KOIT(FM) and KUFX(FM). The Sacramento stations are: KHTK(AM), KNCI(FM), KYMX(FM) and KZZO(FM).
In the announcement, Bonneville President Darrell K. Brown indicated that many of the current Entercom employees have agreed to stay on after the acquisition.
Bonneville had been programming the stations under Local Marketing Agreements since November of last year.
According to a press release from Entercom, the sales “will complete the dispositions required by the U.S. Department of Justice” related to the CBS Radio merger.
Kalil & Co. acted as Bonneville’s advisor for the transaction, which is expected to close before the end of 2018.
Bonneville International also currently has a presence in Seattle, Phoenix and Denver. The broadcaster is owned by Deseret Management Corp.