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EXHIBIT 99.1
[ENTERCOM LETTERHEAD]
FOR IMMEDIATE RELEASE
July 20, 2000
ENTERCOM COMPLETES ACQUISITION AND DIVESTITURE OF RADIO STATIONS IN KANSAS
CITY
(Bala Cynwyd, PA July 20, 2000) Entercom Communications Corp. (NYSE: ETM) today
announced the completion of its acquisition of four radio stations from Sinclair
Broadcast Group (KCFX-FM, KCIY-FM, KQRC-FM and KXTR-FM) for $126.6 million and
the simultaneous sale of three radio stations (KCFX-FM and KCMO-AM, KCMO-FM) in
Kansas City to Susquehanna Radio Corp. for $113 million. Federal regulations
required the Company to divest three stations in the Kansas City market, where
it already owned seven stations prior to the Sinclair acquisition. With this
transaction Entercom now owns eight stations in Kansas City and is the largest
radio station operator in the market.
Entercom President and COO David J. Field commented, "We are pleased to complete
this acquisition and realignment of our stations in Kansas City. With our
revamped and improved station line-up we are significantly enhancing our ability
to serve the needs of our listeners and advertisers."
Paul Leonard of Star Media Group was the broker on the transaction with
Susquehanna. Upon completion of announced transactions, Entercom will own or
operate 95 stations in 18 markets including Boston, Seattle, Portland,
Sacramento, Kansas City, Milwaukee, New Orleans, Memphis, Buffalo, Norfolk,
Greensboro, Rochester, Greenville/Spartanburg, Wilkes-Barre/Scranton, Wichita,
Madison, Gainesville/Ocala and Longview/Kelso, WA.
Contact:
Mr. Steve Fisher
Executive VP and Chief Financial Officer
(610) 660 5647
