10-3-14
While both CBS and Beasley announced there was no cash changing hands in this trade, here's what we were able to find out about the deal. BIA/Kelsey estimates the 13 CBS stations in Tampa, Charlotte and WIP-AM in Philadelphia, being shipped to Beasley, generated $87.6 million in revenue last year. In return, again according to BIA/Kelsey estimates, the two Philadelphia FM stations and three Miami stations that CBS picks up in the deal generated an estimated $48.9 million in revenue, giving Beasley $38.7 million on the upside. For CBS, it hardly puts a dent in its overall revenue numbers. The trade brings the total number of CBS stations down to 117 (from 126) and revenue that still tops $1.3 Billion, second to only iHeartMedia. Beasley jumps up to 53 stations (from 44) with the trade and the additional $38.7 million in revenue moves Beasley up two spots on the BIA/Kelsey list of top billing radio companies. Beasley would move to 13th, jumping over Saga and SBS, with about $143 million in annual revenue.
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