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CBS Corp. has agreed to sell its three radio stations in Denver to Wilks Broadcasting for $19.5 million cash. With the deal, CBS exits the Denver market and advances the company’s strategy to focus on the nation’s largest markets.
The sale to Wilks is the second agreement CBS has inked to refine its portfolio since the company announced in July it would explore divesting 50 of its stations in mid-size markets. Earlier this month, CBS reached an agreement with Clear Channel to swap five mid-size market stations in Seattle, Baltimore, Portland, Ore.
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