-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VqT3pRdo4cKiblrqwMoL919nLlknWnLBinvI+SiRnCyFcKnVKs1xONzyAjv+eNDX pDr8AH75JCX60Vb5N625iw== 0000893220-99-000988.txt : 19990823 0000893220-99-000988.hdr.sgml : 19990823 ACCESSION NUMBER: 0000893220-99-000988 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990818 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990820 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTERCOM COMMUNICATIONS CORP CENTRAL INDEX KEY: 0001067837 STANDARD INDUSTRIAL CLASSIFICATION: RADIO BROADCASTING STATIONS [4832] IRS NUMBER: 231701044 STATE OF INCORPORATION: PA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-14461 FILM NUMBER: 99696528 BUSINESS ADDRESS: STREET 1: 401 CITY AVENUE STREET 2: SUITE 409 CITY: BALA CYNWYD STATE: PA ZIP: 19004 BUSINESS PHONE: 6106605610 MAIL ADDRESS: STREET 1: 401 CITY AVENUE STREET 2: SUITE 409 CITY: BALA CYNWYD STATE: PA ZIP: 19004 8-K 1 FORM 8-K ENTERCOM COMMUNICATIONS CORP. 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported) AUGUST 18, 1999 ------------------------------- ENTERCOM COMMUNICATIONS CORP. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) PENNSYLVANIA 001-14461 23-1701044 - -------------------------------------------------------------------------------- (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 401 CITY AVENUE, SUITE 409, BALA CYNWYD, PENNSYLVANIA 19004 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (610) 660-5610 ---------------------------- NOT APPLICABLE - -------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) 2 ITEM 5. OTHER EVENTS. On August 18, 1999 Entercom Communications Corp. announced the completion of a definitive agreement to purchase 46 radio stations and 300,000 shares of stock in USA Digital Radio, Inc. from Sinclair Broadcast Group, Inc for $824.5 million. This agreement reflects the previous announcement by the parties of a letter of intent for the Company to purchase 43 stations and 300,000 shares of stock in USA Digital Radio, Inc. from Sinclair plus a subsequent agreement to purchase an additional three AM radio stations from Sinclair for $3 million. Completion of this transaction is subject to approval of the Federal Communications Commission and other governmental agencies. The Company's press release related to this transaction is filed herewith as Exhibit 99.1 ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) EXHIBITS. 99.1 Press Release 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized. ENTERCOM COMMUNICATIONS CORP. Date: August 20, 1999 By: /s/ John C. Donlevie --------------- ----------------------------------- John C. Donlevie Executive Vice President, Secretary and General Counsel EX-99.1 2 PRESS RELEASE 1 Exhibit 99.1 ENTERCOM COMMUNICATIONS CORP. SIGNS DEFINITIVE ASSET PURCHASE AGREEMENT WITH SINCLAIR BROADCAST GROUP, INC. (Bala Cynwyd, PA. August 18, 1999) Entercom Communications Corp. today announced the completion of a definitive agreement to purchase 46 radio stations and 300,000 shares of stock in USA Digital Radio, Inc. from Sinclair Broadcast Group, Inc for $824.5 million. The definitive agreement reflects the previous July 26, 1999, announcement by the parties of a letter of intent for Entercom to purchase 43 stations and 300,000 shares of stock in USA Digital Radio, Inc. from Sinclair plus a subsequent agreement to purchase an additional three AM radio stations in Greenville/Spartanburg, SC from Sinclair for $3 million. Completion of this transaction is subject to approval of the Federal Communications Commission and other governmental agencies. The definitive agreement covers 46 stations (16 AM and 30 FM) in nine markets including Kansas City, Milwaukee, New Orleans, Memphis, Buffalo, Norfolk, Greensboro/Winston- Salem/High Point, Greenville/Spartanburg and Scranton/Wilkes-Barre. Seven of the nine markets rank among the top 50 markets in the United States. Three Kansas City radio stations will be required to be sold or exchanged in order to meet regulatory requirements limiting the number of stations Entercom may own in this market. Entercom currently owns seven stations in the Kansas City market and will be limited to a total of eight. Upon completion of the acquisition, Entercom will become the fifth largest radio broadcasting company in the United States based on 1998 proforma revenues. Contact: Steve Fisher Senior Vice President & CFO 610 660 5647 -----END PRIVACY-ENHANCED MESSAGE-----