Entercom Acquires Lincoln Financial Media. UPDATE: Entercom To Trade Four Stations To Bonneville

From Countryaircheck.com:

Entercom has entered into a definitive agreement to acquire Lincoln Financial Media for $105 million plus working capital. Subject to FCC and other regulatory approvals, the deal is expected to close in 2015's second quarter. Entercom receives 15 stations in Atlanta, Denver, Miami and San Diego, including Country KYGO/Denver and KSON/San Diego.

https://www.countryaircheck.com/art/30008

From All Access:

ENTERCOM COMMUNICATIONS CORP. has entered into a definitive agreement to acquire LINCOLN FINANCIAL MEDIA from LINCOLN FINANCIAL GROUP for $105 million plus working capital. The transaction is subject to FCC and other customary regulatory approvals and closing conditions. The Company expects that the deal will close in the second quarter of 2015.

The agreement includes fifteen radio stations in the ATLANTA, DENVER, MIAMI and SAN DIEGO markets, and it will expand ENTERCOM’s station portfolio to more than 130 stations in 26 markets. The stations included are Sports WQXI-A (790 THE ZONE) and Hot AC WSTR (STAR 94)/ATLANTA; Country KSON (and its simulcast KSOQ/ESCONDIDO), Alternative KBZT (FM 94/9), and Easy Listening KIFM (EASY 98.1)/SAN DIEGO; AC WLYF (101.5 LITE FM), Sports WAXY-A-F (SPORTS TALK 790 AM.104.3 FM THE TICKET), and Classic Hits WMXJ (MAGIC 102.7)/MIAMI; and Sports KKFN (104.3 THE FAN), Country KYGO, Top 40/Rhythmic KQKS (KS107.5), Sports KEPN-A (1600 THE ZONE), and Oldies KRWZ-A (CRUISIN' OLDIES 950)/DENVER.

Commenting on the agreement, ENTERCOM Pres./CEO DAVID J. FIELD stated, “We are excited to announce the acquisition of LINCOLN FINANCIAL MEDIA and welcome the addition of their outstanding brands and talented broadcasters to ENTERCOM. LFM is a great organization that has done an excellent job serving its listeners, customers and communities over many years and we look forward to building on that tradition. LFM is a perfect fit for us as it bolsters our position in DENVER and expands our footprint into ATLANTA, MIAMI and SAN DIEGO with terrific brands that have significant growth potential. Furthermore, it fulfills our disciplined acquisition criteria as it enhances our company’s competitive position and growth and should be accretive to shareholders in 2015 while having a minimal impact on leverage.”
FIELD also took to TWITTER to make the announcement:

http://www.coloradomedia.net/forums/...ntid=599&stc=1

"We are pleased to reach an agreement with ENTERCOM COMMUNICATIONS to sell LINCOLN FINANCIAL MEDIA," added LFM Pres./CEO DENNIS R. GLASS. "Not only will this transaction allow LINCOLN FINANCIAL MEDIA to align itself with a well-respected media organization, but it also enables LINCOLN FINANCIAL GROUP to focus on its strategy to grow its core lines of business."

The transaction is structured as an acquisition of the stock of LFM with a tax election that allows ENTERCOM to receive a step-up in the tax basis of the station tangible and intangible assets providing additional future tax shields and enhancing future free cash flow.
The $105 million purchase price will be paid in the form of $77.5 million in cash and $27.5 million in new perpetual cumulative convertible preferred stock that will be issued to LINCOLN. ENTERCOM expects to finance the cash portion of the purchase price through a combination of its existing $50 million revolver, cash on hand, and through other financing sources, if necessary.

The convertible preferred stock will not count as debt under the Company’s debt agreements. With the use of convertible preferred stock and adjustments for pro forma cost savings reasonably expected, the transaction will have minimal impact on the Company’s leverage as defined under its credit agreement.

Entercom anticipates that it will begin operating the LFM stations under a time brokerage agreement which is expected to commence in late JANUARY following the usual Justice Department regulatory review. In order to comply with the FCC’s station ownership limitations, the Company plans to divest one FM station in the DENVER market.

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From The Denver Post:

Entercom has reached a deal to acquire Lincoln Financial Media, both major radio operators in Denver, for $105 million plus working capital.

The sale of 15 stations in four markets including Denver will mean the loss of jobs for dozens of local radio employees. Lincoln Financial Media’s Denver holdings were KYGO, historically one of the most recognized country stations nationally, KQKS, KKFN, KEPN and KRWZ. KYGO-FM, Comedy 103.1, has shown tremendous growth in its first year.

The agreement, for $105 million plus working capital, will expand Entercom’s station portfolio to more than 130 stations in 26 markets. The transaction is pending FCC approval and other regulatory hurdles.

In a note to staffers, LFM chief Bob Benson said the transaction is expected to close during the second quarter of 2015 but Entercom will begin operating the stations under a time brokerage agreement on Jan. 16.

Here’s the complete list of LFM stations to be acquired by Entercom:

Denver
KEPN-AM Sports
KYGO-FM Country
KKFN-FM Sports
KQKS-FM Rhythmic CHR
KRWZ-AM Oldies
Translator (KYGO HD-2) Comedy

Atlanta
WSTR-FM Hot Adult Contemporary
WQXI-AM Sports

Miami
WAXY-AM/FM Sports
WLYF-FM Adult Contemporary
WMXJ-FM Classic Hits

San Diego
KBZT-FM Alternative
KSON-FM/KSOQ-FM Country
KIFM-FM Adult Contemporary

Entercom said it will have to divest one FM station in Denver to comply with FCC rules. Currently Entercom owns KALC (Alice 105.9 FM), KOSI (101.1 FM), KEZW (Studio 1430 AM) and KQMT (The Mountain, 99.5 FM) in Denver.

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Entercom owns these Denver stations: Classic Rock KQMT 99.5 FM, AC KOSI 101.1 FM, Hot AC KALC 105.9 FM, and Nostalgia KEZW 1430 AM.

Lincoln Financial owns these Denver stations: Country KYGO 98.5 FM, Sports KKFN 104.3 FM, Rhy CHR KQKS 107.5 FM, Oldies KRWZ 950 AM and Sports KEPN 1600 AM.
It also runs translator K276FK 103.1 FM, that has a comedy format.

I wonder which FM signal they will sell to get down to the max of 5 full signal FM stations in the Denver market? They can't touch the translator at 103.1 FM, since it wouldn't count as a full FM signal needed to be divested.

The 2 lowest rated FM stations between all of the Entercom and Lincoln owned stations are KKFN and KALC.

Since I hear sports has a bigger profit margin, maybe they will take KKFN's format and move it to KALC's better signal to give it better coverage before they divest KKFN's 104.3 FM signal?

Anything is possible, so it should be interesting to see what happens closer to when the sale is final.

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Originally Posted by Rob

Entercom owns these Denver stations: Classic Rock KQMT 99.5 FM, AC KOSI 101.1 FM, Hot AC KALC 105.9 FM, and Nostalgia KEZW 1430 AM.

Lincoln Financial owns these Denver stations: Country KYGO 98.5 FM, Sports KKFN 104.3 FM, Rhy CHR KQKS 107.5 FM, Oldies KRWZ 950 AM and Sports KEPN 1600 AM.
It also runs translator K276FK 103.1 FM, that has a comedy format.

I wonder which FM signal they will sell to get down to the max of 5 full signal FM stations in the Denver market? They can't touch the translator at 103.1 FM, since it wouldn't count as a full FM signal needed to be divested.

The 2 lowest rated FM stations between all of the Entercom and Lincoln owned stations are KKFN and KALC.

Since I hear sports has a bigger profit margin, maybe they will take KKFN's format and move it to KALC's better signal to give it better coverage before they divest KKFN's 104.3 FM signal?

Anything is possible, so it should be interesting to see what happens closer to when the sale is final.

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This would be a perfect time for Janice that owns 93.7 the ROCK to acquire whatever FM station that well be let go and move that station to that frequency!
Since Entercom owns 104.3 and 105.9, the choice is probably going to be interesting. I would hate to loose ALICE, since that is the only unique radio station in the Denver area, and it is.
It's only those 2 stations that are up in the air to on which one well be let go?
I remember reading this about a year or so ago? They really should kill off 1600, since it's not doing them any good and since no one can even pick it up, and Oldies 950 isn't do that well either. Just two Djs left and that's it.

holy crap. 13 major market full power (as far as i know) stations for 8 million a pop, plus the translator? station valuations have really, really fallen.
wasn't the jeff-pilot sale more than that just for this cluster?

I can't imagine that there's room for the whole enchilada in either building.

i would think wilks would want alice so as to stop fighting with mix. i feel horrified for the alice peeps were that the case. I'd think ETM would want to spin off the sports thing instead, if you look at how the clusters are skewed and think in terms of combo buys; it really will hurt CC (or whatever ridiclous thing it's called now)

Station prices have taken a nose dive since the 90s when these stations were going for $20+ mil a piece.

There are so many scenarios with what happens...

Entercom may want to keep KALC to prevent someone from taking it and hurting KOSI.

But Entercom does have a sports station in more than half of their markets already. So keeping KKFN might be a better choice, especially if it is profitable.

Or they could get rid of one of the other FM stations, but they all have a great niche in the market with great ratings...

It will come down to what profits look like for each station.

It will be interesting to see who can buy the station that they sell.

They may sell it to someone who won't have a format that will affect the stations they decide to keep. That could hurt the owners of 93.7 The Rock's chances to buy since their format is similar to KOSI's.

Wilk's buying KALC is an interesting thought for sure...

Nothing's confirmed but according to Tom Taylor's Radio email newsletter that I get every weekday morning it looks like KKFN 104.3 might be the one that gets divested.

From: http://www.insideradio.com/Article.a...593&spid=32061


Entercom identifies spin-off in LFM deal.

Denver is the only market where a spin-off will be needed for Entercom to meet local FCC ownership limits in its $105 million purchase of Lincoln Financial Media. The company says it will sell sports “The Fan” KKFN (104.3), a 91,000-watt class C1. Not counting an HD-fed translator airing comedy, KKFN is Lincoln’s lowest rated FM in the market. Entercom CEO David Field says it has been operated “somewhat independently,” making it the “cleanest station” to sell.

It would be interesting if Dealin' Doug's group buys 104.3. Knowing those boys, I bet they're taking a look at this. Moving to 104.3 would suddenly make them a player in the market.

I was thinking that as well that KDSP's peeps would be the leading candidate to buy them...

Mile High Sports would also be up there, especially since they already have a business relationship with KKFN. But Mile High may be low on cash at this moment since they just purchased 2 of the signals they were leasing to be on, KDCO and their 94.1 FM translator.

Huh.. Then what would those boys do with 102.3 then? They already own KJAC (their only powerful station, there is). I am hoping for The Rock to get it and move up the dial quite frankly.

I agree, Rob. I'm sure the Mile High boys would love to have 104.3, but they've always seemingly been short of cash. Unless they find an investor, I think they're out of the picture.

The KDSP group has access to money. They have also been pretty aggressive in trying to upgrade their signal. I'd be shocked if they didn't take a run at this. As for what they would do with the other 2 stations, they may keep one for airing alternate sports programming and overflow games. I also suspect the sale of 104.3 will also include 1600, since Lincoln has wanted it gone for years.

Dude, I don't see The Rock as an option. First, the Entercom people seemingly want to keep sports on 104.3. "Entercom CEO David Field says it has been operated 'somewhat independently,' making it the 'cleanest station' to sell." To me that says that they want The Fan to continue operating, more or less as it is now, for someone else. The comment has previously been made that Entercom may not want to sell to someone would may pull listeners away from their music stations.

The Rock is a seriously low budget operation. I say that in a positive way. They remind me of the old KDKO (in the Dr. Daddio days) in a way. The problem is that radio like that can no longer work on a grand scale in the current landscape. This kind of station made sense when the only advertising options for local business were radio, TV and newspaper. The FCCs ownership rules also encouraged more diversity in ownership then too. The world is a very different place now.

Unlike the old KDKO, The Rock is using experienced DJs. But they're guys who weren't exactly in demand (...they don't command big money). These days there are plenty of those kinds of guys & gals who are looking for work, so wages are going to be pretty low. It's going to be difficult for them to survive over time, even with low budget talent on an inexpensive signal. I'm not sure how deep their pockets are, but I suspect that the 104.3 signal may be more than a bit pricey for them. I hate to say this, because I'd love to see them succeed, but they'll eventually get tired of losing money (or making relative peanuts on the money they've invested) and they'll go away. These kinds of stations always do (KDKO, KCKK on 1600, etc.). If they don't buy the 104.3 signal they'll lose less money on the way out; if they DO get 104.3 their losses will increase exponentially.

My questions are more logistical, will the current Lincoln cluster remain on Orchard Road or will one both of the clusters move and merge into a new facility? While I have never been in Entercom's building, I have been in LFM numerous times and its pretty top shelf.

Besides the Fan being divested, wonder what other immediate changes will be made. I wonder if KYGO and KS will see many changes, they are arguably the two most recognized radio stations in Denver.

It's kinda funny, Jonathan Wilde working for the company that bought his former employer.

I think all of the stations are pretty well placed in the market ratings-wise and you won't notice any changes once the sale goes through.

As for merging all of the stations into one location, we will have to wait and see what they think they can do. It will eventually happen since it saves a lot of money.

I agree with everything Ghost of Timber Dick said and do think that they will try to sell KKFN and KEPN as a combo, probably in the $5-10 million range; most likely closer to $5 Million.

From The Denver Post:

Attachment 603

Which Denver radio FM station will Entercon spin off in order to close its $105 million purchase of Lincoln Financial Media? And who are the potential buyers?

Insiders suggest the spinoff station will be the all-sports “104.3 the Fan” KKFN. And word is, it could be snapped up by a noncommercial suitor. Frankly, I’d love to see Colorado Public Radio’s Open Air (KVOQ 1340 AM) get an FM position so that those of us listening in cars wouldn’t have to depend on the weaker AM signal.

Assisting in this guessing game is Chuck Lontine, a broadcasting veteran and retired investment banker with many Denver radio station deals to his credit.

“This is a perfect opportunity for CPR to acquire a strong FM,” Lontine said. The idea would be either to boost KVOD to a stronger channel or move Open Air to an FM home on 88.1.

He also suggests Rocky Mountain PBS, which owns jazz KUVO-FM at 89.3, could use a partner, while Community Radio for Northern Colorado’s KUNC at 91.5 “has longed to enter the Denver-Boulder metro for many years.”

Does KUNC have the means to buy into the market? “I believe that KUNC’s followers are in a strong enough position to make a Denver signal both a reality and attainable. Station manager Neil Best is one of the more passionate individuals I have have ever worked with and I strongly believe that he could get it done.”

Lontine told a radio trade report there are possible suitors on the Christian radio side and in the commercial arena, including Latino Broadcasting’s heritage KBNO at 1280, which has “a remarkable opportunity to enter the FM world, to compete with powerhouse Entravision” and its regional Mexican KXPK at 96.5.

Add to the list of guesses: Maybe the spinoff won’t be The Fan but instead “Cruisin’ Oldies 950” KRWZ. Any others?

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Originally Posted by Colorado Media Newsroom

Add to the list of guesses: Maybe the spinoff won’t be The Fan but instead “Cruisin’ Oldies 950” KRWZ. Any others?

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It HAS TO BE one of the FM signals spun-off... not an AM.

Maybe WILKS will buy 104.3 or whatever FM signal is spun off?

Joanne Ostrow mentions that 104.3 may be sold to a non-commercial outlet. I thought all public stations had to be at the lower end of the FM dial. Has this rule changed?

A non-comm can buy a comm station.

Way-FM did it here in Denver when they bought 101.9 FM in 2010.
And when EMF bought 103.9 FM in Fort Collins in 2013.

From The Denver Post:

Denver's most popular sports radio station is facing an uncertain future.

KKFN 104.3 FM (The Fan) could be off the broadcasting dial after a recent corporate radio transaction.

The Fan was one of the local radio properties sold by the Lincoln Financial Group to Entercom, a media giant (100 stations in 23 markets). Entercom paid $105.5 million for all 15 Lincoln Financial Group properties in Denver, Miami, San Diego and Atlanta.

Entercom, which already operates three FM stations in the Denver market, is scheduled to take over the Lincoln Financial Group properties Jan. 16 under a sales marketing agreement, pending Federal Communications Commission approval of the purchase later this year.

But under FCC regulations, a broadcasting organization is allowed to own only five FM outlets in a radio market.

The Fan, a steady ratings performer in audience reports, could be spun off by Entercom.

Entercom's three FM music stations in the Denver market are KQMT 99.5 FM (The Mountain), KOSI 101.1 FM and Alice (105.9 FM).

In addition to The Fan, Lincoln Financial has been operating two FM music outlets: KYGO (98.5) and KQKS (107.5).

Thus one station must be spun off by the new owners.

The Fan is the most expensive to operate of the acquired FM properties because of overhead — salaries for talk-show talent and reporters, live presence on the local scene and contracts with several sports leagues for play-by-play coverage.

But why would Entercom eliminate a sports station in a city where the Broncos reign supreme?

It should be noted Entercom is anything but anti-sports. A dozen of its stations across the country have tie-ins with major sports franchises. And sports-talk stations in Boston and San Francisco are extremely popular.

The Entercom buy includes two AM stations: 950 (a "cruisin' oldies" format) and 1600 (The Zone), a sports outlet featuring national programming that has limited listening range at the right end of the radio dial.

Actually, 950 AM is where The Fan started in March 1985. The sports format moved to 104.3 FM in March 2008.

It's doubtful whether Entercom, in this FM radio era, would schedule a sports format on an AM station.

Under FCC regulations, The Fan could be operated briefly under a "third part radio trust" until a buyer is found. Thus, the 104.3 FM sports format could remain for several weeks, even months.

Entercom executives were unavailable for comment during the holiday season.

According to unsubstantiated local reports, the 104.3 FM frequency could be the future home of a religious station or a public radio outlet.

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The sports format moved to 103.5 FM in March 2008 <==Really? It moved and took over the FOX in 2008?? Since when did that happen? As we all know 103.5 is still THE FOX, so that statement is wrong.
You already stated that 104.3 is the fan, so please correct that error soon? It's not right..

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Originally Posted by radiodude

The sports format moved to 103.5 FM in March 2008 <==Really? It moved and took over the FOX in 2008?? Since when did that happen? As we all know 103.5 is still THE FOX, so that statement is wrong.
You already stated that 104.3 is the fan, so please correct that error soon? It's not right..

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That article was copied from The Denver Post but you're right the Fan moved to 104.3 in 2008. I went back and fixed the error.

Dusty Sanders has gotten details wrong over the years in his articles when it comes to radio... it was something I used to point out a lot in the 90s on DenverRadio.net and when I hosted a talk show here in town.

Though the sale will take some time to get approved, he is correct that Entercom is due to take over the Lincoln stations next week. So it will be interesting to see what happens with The Fan.

Front Range Sports just sold ESPN KDSP 102.3 FM. But that sale was negotiated way before the news of KKFN having to be divested. I heard through a KDSP insider that it was not doing well financially. And they were looking to get out. So it makes me think that Front Range may not use the $5.75 million they just got for KDSP to buy KKFN. And may just try to sell KJAC 105.5 FM as well. Or if they can get KKFN and the sports format it has now for a decent price, then their plans may change.

Another good possibility is that Entercom would move the KKFN sports format to one of their AM stations (950 AM or 1600 AM) to keep. - most likely 950 AM. Then sell the 104.3 FM frequency without the rights to the sports programming after it is moved.

If the FAN is doing well financially, and they keep the Sports format on FM and only sell the 104.3 signal; just for fun, what would go away, Alice, or The Mountain? We all know KYGO, KS, and KOSI are probably the most valuable and recognized stations and signals in Denver so those aren't going to change.

Wonder if WILKS could buy 104.3? Maybe put county on 104.3 and give KYGO a run for it on a real signal (I'm done attempting humor).

Any word where The Fan will land? Dehuff was playing some Mexican music this morning and they were all laughing. Vic was wondering if he need to go on google translator.

Not sure Clarence. Welcome to ColoradoMedia.net. :)

From All Access:

Attachment 619

ENTERCOM withdrew its HART-SCOTT RODINO anti-trust filing with the FTC and Department of Justice for its acquisition of LINCOLN FINANCIAL MEDIA's stations on WEDNESDAY and will refile the same paperwork by TODAY (1/16), the company told the SEC in a filing THURSDAY (1/15).
The procedural move gives the FTC and DOJ another 30 days to do their antitrust review of the deal, which is conditioned on approval or early termination of the review by the agencies.

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From The Denver Post:


Attachment 616

Following the Entercom deal...KKFN "The Fan" is now being held in a trust, run by Elliot Evers of Media Venture Partners. As reported, in acquiring Lincoln Financial Media, Entercom is required by the Federal Communications Commission to divest one radio station in Denver. Evers is assigned as trustee for the divesture of KKFN-FM (104.3).

It’s unconfirmed, but word is, Kroenke Sports and Entertainment is interested in buying “The Fan,” and why not? With the Colorado Avalanche, the Denver Nuggets and Colorado Mammoth in the company’s portfolio, Kroenke would seem to be a natural to own “Denver’s Sports Station.”

Radio trusts are not uncommon and some run for long periods of time. In this case, however, the expectation is that things will move quickly.

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Quote:

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Originally Posted by Colorado Media Newsroom

From The Denver Post:


Attachment 616

Following the Entercom deal...KKFN "The Fan" is now being held in a trust, run by Elliot Evers of Media Venture Partners. As reported, in acquiring Lincoln Financial Media, Entercom is required by the Federal Communications Commission to divest one radio station in Denver. Evers is assigned as trustee for the divesture of KKFN-FM (104.3).

It’s unconfirmed, but word is, Kroenke Sports and Entertainment is interested in buying “The Fan,” and why not? With the Colorado Avalanche, the Denver Nuggets and Colorado Mammoth in the company’s portfolio, Kroenke would seem to be a natural to own “Denver’s Sports Station.”

Radio trusts are not uncommon and some run for long periods of time. In this case, however, the expectation is that things will move quickly.

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That would make sense, since they own Outdoor Channel and other productions as well. .

http://www.bizjournals.com/denver/ne...sportsman.html

Just so you all can read the article on them. Adding KKFN would make alot of sense actaully.. I bet anything the studio would move to another location as well?

I hear KSE are high in the running to buy KKFN, along with a Spanish format-based company. I'm also hearing from sources that the odds of Front Range Sports buying it are pretty low. The studio could stay where they are, depending on if the company buying it has equipment in place. The new owner could just "rent" the existing studio too. I'm hearing that a deal most likely will be done in the next 30 days.

From All Access:

The FCC has approved the sale of LINCOLN FINANCIAL MEDIA's radio stations to ENTERCOM for $105 million. In conjunction with the long-delayed approval, ENTERCOM has filed to convert LINCOLN FINANCIAL MEDIA's holding companies into DELAWARE Limited Liability Company as ENTERCOM DENVER II, LLC, ENTERCOM ATLANTA LICENSE, LLC, ENTERCOM MIAMI LICENSE, LLC, and ENTERCOM SAN DIEGO LICENSE, LLC, effective immediately upon closing.

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Quote:

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Originally Posted by Colorado Media Newsroom

From All Access:

The FCC has approved the sale of LINCOLN FINANCIAL MEDIA's radio stations to ENTERCOM for $105 million. In conjunction with the long-delayed approval, ENTERCOM has filed to convert LINCOLN FINANCIAL MEDIA's holding companies into DELAWARE Limited Liability Company as ENTERCOM DENVER II, LLC, ENTERCOM ATLANTA LICENSE, LLC, ENTERCOM MIAMI LICENSE, LLC, and ENTERCOM SAN DIEGO LICENSE, LLC, effective immediately upon closing.

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Good, now we can finally see what is going to happen with KKFN! I knew this had to be the end of the quarter. So let's see who gets KKFN, finally!

KKFN has been officially transferred to: "Pikes Peak Trust LLC as Trustee" headed Media Venture Partners broker Elliot Evers.

Quote:

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Originally Posted by Rob

KKFN has been officially transferred to: "Pikes Peak Trust LLC as Trustee" headed Media Venture Partners broker Elliot Evers.

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So does Pikes Peak Trust own any radio Stations in Colorado?
And it has? I just looked on the FCC web site and it still says Lincoln? So where did you see this info Rob?

Quote:

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Originally Posted by radiodude

So does Pikes Peak Trust own any radio Stations in Colorado?
And it has? I just looked on the FCC web site and it still says Lincoln? So where did you see this info Rob?

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Here it is radiodude.

http://licensing.fcc.gov/cgi-bin/ws....&fac_num=71767

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Originally Posted by Chase

Here it is radiodude.

http://licensing.fcc.gov/cgi-bin/ws....&fac_num=71767

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Thanks Chase. So this is their only station they own it looks like?
Well see, Mile High Sports radio is dead, so we should let it be that way. I wonder? Is this company going to keep KKFN the way it is?

That trust is only being used to sell KKFN and keep Entercom under the maximum amount of FM stations they own in the market. They will probably keep things the way they are and just accept bids. But they could also do a little cost cutting to make the station look more attractive to buyers.

Mile High Sports is promoting they will be on KVOQ 1340 AM once the FCC approves the deal between CPR to Cedar Cove. It should be sometime this month that happens.

Quote:

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Originally Posted by Rob

That trust is only being used to sell KKFN and keep Entercom under the maximum amount of FM stations they own in the market. They will probably keep things the way they are and just accept bids. But they could also do a little cost cutting to make the station look more attractive to buyers.

Mile High Sports is promoting they will be on KVOQ 1340 AM once the FCC approves the deal between CPR to Cedar Cove. It should be sometime this month that happens.

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That doesnt make any sense what so ever? They told me that KVOQ 1340 is being swapped for Cedar cover 88.3, and that CPR is going to keep 1340 and keep the owner ship of 1340.
So I think Mile High Sports has been mislead on this one. 1340 isn't going to be sold to them at all.

RadioInsight is reporting this evening that Entercom could close on the deal with Lincoln Financial as soon as the end of next week or sooner.