By: (AP) Tribune Co., a major newspaper publisher and broadcaster, has agreed to sell three Denver radio stations to Entercom Communications Corp. for $180 million. The sale, which must receive regulatory approval, involves KOSI-FM, KKHK-FM, and KEZW-AM.
Entercom Communications, based in Philadelphia, owns nearly 100 radio stations in 19 cities. As part of the agreement, Entercom will manage the stations for up to three years while the companies explore a possible deal to swap television station assets.
"This was a way of allowing us to raise capital, exit the Denver radio market, and continue identifying other television assets that will help us expand our television holdings," Tribune spokesman Gary Weitman said.
The company owns and operates 23 major-market television stations. After the sale, Tribune Co. will have one radio station in Chicago that it has owned since 1928.
Entercom sees different opportunities in the three stations, company spokesman Steve Fisher said. "In particular, KOSI has been a clearly dominant leader in its format for 10 years, as a very strong station," Fisher said.
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