Broadcast company buys radio station for $38 million

Beasley Broadcast Group agrees to purchase its seventh station in Philadelphia market.

  • By Business Observer Staff
  • | 9:02 a.m. July 19, 2018
  • | 0 Free Articles Remaining!
File. Beasley CEO Caroline Beasley
File. Beasley CEO Caroline Beasley
  • Charlotte–Lee–Collier
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NAPLES — Beasley Broadcast Group Inc., a large- and mid-size market radio broadcaster, has agreed to acquire WXTU-FM in Philadelphia from Entercom Communications Corp. It will pay $38 million in cash for the station. 

Beasley intends to fund the acquisition through borrowings from loans and cash generated from operations.

 

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