Thursday, September 14, 2017

Entercom/CBS deal in trouble?

If this isn't a sign of trouble, I don't know what is. From Inside Radio...

Entercom and CBS Radio—radio’s wedding of the year—now has an option to have the whole thing annulled before either shows up to the altar. Both companies say they think the deal can close by the end of this year, but they’re giving each other an option to scuttle their historic merger if it hasn’t been finalized by end-of-January.

An amendment agreed to by both parties says the deal can “be terminated by either CBS or Entercom if the merger has not been consummated as of January 31, 2018.”