CBS To Take Over 3 Miami Radio Stations In Multi-City Station Swap
MIAMI (CBSMiami) -- Some big changes behind the scenes are coming to South Florida radio, as CBS Radio and Beasley Broadcasting announced a four-city station swap on Thursday.
The agreement involves swapping 13 stations in Tampa and Charlotte, as well as one AM station in Philadelphia for two FM stations in Philadelphia, and three stations in Miami.
CBS Radio will take over two FM stations here in Miami, WKIS and WPOW, plus WQAM on the AM side.
As a result of the swap, CBS Radio will for the first time have a presence in Miami, the nation's 11th-largest radio market.
CBS already owns two television stations in the market, WFOR-TV and WBFS-TV.
After the station swaps, CBS will own four FM and two AM stations in Philadelphia, along with its two TV stations.
"This transaction reinforces our strategy to concentrate on large market properties," said Dan Mason, President and CEO, CBS RADIO. "We already have television duopolies in both Philadelphia and Miami, so these new stations will be a terrific complement to our existing local broadcasting portfolio, and a welcome addition to the overall CBS family."
Federal regulators must approve the ownership changes, which are expected by the end of the year.
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