Company completes $12M radio station deal

NAPLES — Beasley Broadcast Group completed its previously announced asset exchange with Entercom Communications Corp., where Beasley exchanged WMJX-FM 106.7 Boston, in addition to $12 million cash, for WBZ-FM, 98.5 Boston.

“The addition of WBZ-FM to our broadcast portfolio highlights Beasley's focus on premium local programming and content and is complementary to our five other radio stations and digital operations in the Boston market,” Beasley Broadcast Group CEO Caroline Beasley says in a statement. “Throughout Beasley Broadcast Group's 56 year history, we have actively managed our station portfolio with the goal of serving the communities where we operate with the best local programming and brands, diversifying our operations, managing risk and improving financial results. The addition of WBZ-FM to our portfolio addresses all of these strategic objectives as it strengthens our company's presence and commitment to locally originated content in the Boston market.”

WBZ-FM is the radio network home for the Boston Bruins, New England Patriots, Boston Celtics and New England Revolution. “Professional sports are unique in that strong bonds are formed between local fans across multiple generations based on shared traditions and a continued passion for their teams,” Caroline Beasley says.

Founded in 1961, Naples-based Beasley Broadcast Group owns and operates 63 stations (45 FM and 18 AM) in 15 large- and mid-size markets nationwide.