Deals
Entercom, on Verge of CBS Radio Buy, Takes Stake in Podcaster Dgital Media
- CEO Field sees digital playing role in wider industry revival
- Executive vows combined company will show organic growth
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David Field, whose dad started Entercom Communications Corp. with three FM stations 50 years ago, wants to breathe new life into old media with his $1 billion purchase of CBS Radio -- and podcasts will be a part of it.
Entercom, with 126 stations in 28 cities, is acquiring 45 percent of Dgital Media, a startup that handles ad sales and distribution for “Pod Save America,” “Recode Decode” and “The Tony Kornheiser Show.” The Bala Cynwyd, Pennsylvania-based station owner paid $10 million, according to a person familiar with the matter, and has the option to buy the rest.