Recently, New York City based CBS Radio took over three local stations from Beasley Broadcast Group. These stations include Kiss 99.9 FM, WQAM 560 AM and local giant Power 96.
This is how the deal worked out. CBS Radio gave up 14 radio stations located in Tampa, Charlotte and Philadelphia for five of Beasley’s stations three Miami stations (mentioned above) and two Philadelphia stations.
“This transaction reinforces our strategy to concentrate on large market properties,” CBS Radio CEO Dan Mason said in a news release. “We already have television duopolies in both Philadelphia and Miami, so these new stations will be a terrific complement to our existing local broadcasting portfolio, and a welcome addition to the overall CBS family.”