WASHINGTON (Reuters) - The Federal Communications Commission said Thursday it had approved Entercom Communications Corp’s (ETM.N) deal to buy CBS Radio Inc on condition that it divest some additional radio stations.
The deal to sell a unit of CBS Corp (CBS.N) last week won approval from the U.S. Justice Department after the companies agreed to sell 13 stations in Massachusetts and California, and will result in the combined firm owning more than 200 radio stations. The merger, announced in February, will create the second-largest U.S. radio broadcaster by revenue. The deal could close as soon as next week.
Reporting by David Shepardson and Susan Heavey; Editing by Chizu Nomiyama