CBS Radio and Entercom Communications, Interep’s two largest clients, have signed national sales representation agreements with Katz Radio Group, a division of Katz Media Group.
The agreements, announced late Tuesday (Nov. 25) follow a decision by the U. S. Bankruptcy Court for the Southern District of New York to allow Katz to approach Interep’s clients and negotiate deals in exchange for $3.6 million cash to Interep.
CBS Radio, operator of 140 radio stations in 49 of the top 50 markets, represented about one-third of Interep’s total revenue.
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