Entercom Also Buys WILD(FM) from Radio One

Radio One, meantime, agreed to sell WILD(FM) in Boston for $30 million to Entercom.
It acquired the station seven years ago for approximately one-third that amount.
President/CEO Alfred C. Liggins III called the deal “a very good start to our asset disposition process.” He said Boston is not of great strategic importance to Radio One.
“We will use the capital generated from this sale to reduce our leverage while we continue to look to rationalize our asset base.”
Entercom said it begins operations immediately through a time brokerage agreement. It will use the signal to simulcast WAAF(FM).
“The highly popular WAAF brand has achieved strong ratings and operating results despite having a transmission facility located approximately 35 miles west of Boston causing limited signal coverage in downtown Boston and other parts of the metropolitan area,” Entercom stated.
“The WILD signal is an excellent complement to the signal coverage of WAAF and will enable the station to provide full coverage to downtown Boston and other underserved areas of the metropolitan area. This signal improvement is expected to boost the station’s ratings and operating performance significantly.”