Trade, exchange rate might dominate G20 topics in Germany's Baden-Baden
Tesla will raise $1.15B in stock offering, Musk to buy $25M
Brexit changes everything - Scotland deserves a second independence vote
Hawaiian Airlines cancels today's Honolulu-New York flights due to storm
Remy Ma Talks Nicki Minaj Feud, Pregnancy Struggles & Life in Prison
CBS Sets Radio Division Merger With Entercom
03 February 2017, 12:43 | Felicia Christensen
Radio Mic by Rene Johnson via Flickr Creative Commons
Entercom Communications Corp. and CBS Radio said Thursday that they have agreed to merge, creating a radio industry giant that in Boston would put two aggressively competitive Boston sports stations under the same corporate umbrella. It will pursue a "reverse Morris Trust" transaction to keep it tax-free to shareholders, and expects the deal to close in the second half. Operating under the Entercom brand, the combined company will have 244 stations, including four in Baltimore. Entercom is already the fourth-largest USA radio company and will move up to second behind IHeartMedia. But the headquarters will be at Entercom's Bala Cynwyd offices, and the joint company will be run by David Field. If given the OK, the new entity would become the second-largest radio station owner in the USA, based on combined revenue in 2016.
CBS Radio's highest-rated station in the DFW market is KLUV-FM (98.7), a classic hits station.
The combined companies' pro forma revenue on a trailing 12 months was approximately $1.7 billion.
Trump's next executive order could clamp down H-1B visas
Wipro and Tech Mahindra also registered falls of 1.62 and 4.23 percents respectively, closing at values of Rs. 457.10 and 451.75. All of this is pressuring the stock prices of Indian technology companies-some falling as much as 9 percent Tuesday.
Title, early trailer released for next 'Star Wars' installment
Disney revealed on Monday morning that the next installment of the main Star Wars saga will be titled Star Wars: The Last Jedi . The standalone movie "Rogue One: A Star Wars Story", released in December 2016, has made $1 billion at the worldwide box office.
Etihad CEO Hogan To Leave This Year
In December a year ago , Etihad Airways said it was cutting jobs in some parts of its business as a part of its restructuring. The Etihad Airways statement did not say where Hogan was moving to, only stating that he was joining an investment company.