CBS Radio this week swapped five radio stations in mid-sized markets for two of Clear Channel’s large-market stations. CBS said the deal helps it focus on shedding mid-size market stations.
Both groups said the agreement, subject to regulatory approval, satisfies Justice Department conditions placed on Clear Channel’s merger with Thomas H. Lee Partners and Bain Capital Partners earlier this year.
In the trade, Clear Channel will obtain KBKS(FM), Seattle; WQSR(FM), Baltimore; KXJM(FM) and KLTH(FM), Portland, Ore.; and KQJK(FM), Sacramento, Calif.
In return, CBS Radio will acquire two stations in Houston, the country’s sixth-largest radio market, KLOL(FM), called “Mega 101.1” and KHMX(FM), called “Mix 96.5.”
“Both of the newly acquired Houston stations, KLOL and KHMX, are format leaders in the market,” stated CBS Radio President/CEO Dan Mason.