|Tessa Bird Photography|
|This is a Laz we love.|
Several radio stations in West Palm Beach are about to get a new owner.
CBS Corporation announced today that it has signed an agreement to sell its five radio stations in West Palm Beach for a total of $50 million to local broadcaster Palm Beach Broadcasting. The deal comes in the aftermath of other radio station sales CBS completed in Portland, Oregon, and Denver, Colorado. The transactions fall in line with CBS' strategy to specifically focus on larger markets. However, even after the sale is completed, CBS will still own 125 radio stations, making it one of the nation's biggest radio conglomerates.
After the sale, Palm Beach Broadcasting LLC will acquire three stations from CBS. To comply with FCC rules that limit the number of properties any one broadcaster can own within one specific market, Palm Beach Broadcasting will also have the right to sell the other two stations to third parties.More »
|Photo by Monica McGivern|
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