-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PzJb5zkpkM/xcUHx8XZSEK0r54u+wMQKzKUKCJEEepa3pIQvfcukGHxW25KX6Hpn FWv2MmV4OZbG65Bkl5Se9Q== /in/edgar/work/20000803/0000893220-00-000918/0000893220-00-000918.txt : 20000921 0000893220-00-000918.hdr.sgml : 20000921 ACCESSION NUMBER: 0000893220-00-000918 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000720 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000803 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTERCOM COMMUNICATIONS CORP CENTRAL INDEX KEY: 0001067837 STANDARD INDUSTRIAL CLASSIFICATION: [4832 ] IRS NUMBER: 231701044 STATE OF INCORPORATION: PA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-14461 FILM NUMBER: 685100 BUSINESS ADDRESS: STREET 1: 401 CITY AVENUE STREET 2: SUITE 409 CITY: BALA CYNWYD STATE: PA ZIP: 19004 BUSINESS PHONE: 6106605610 MAIL ADDRESS: STREET 1: 401 CITY AVENUE STREET 2: SUITE 409 CITY: BALA CYNWYD STATE: PA ZIP: 19004 8-K 1 e8-k.txt 8-K REPORT 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): July 20, 2000 ENTERCOM COMMUNICATIONS CORP. (Exact name of registrant as specified in its charter) PENNSYLVANIA 001-14461 23-1701044 (State or Other (Commission (IRS Employer Jurisdiction of File Number) Identification No.) Incorporation) 401 City Avenue, Suite 409, Bala Cynwyd, Pennsylvania 19004 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (610) 660-5610 (Former Name or Former Address, if Changed Since Last Report) 2 ITEM 2. ACQUISITION OF ASSETS. On July 20, 2000, Entercom Communications Corp., a Pennsylvania corporation ("Entercom") announced the completion of its previously announced acquisition of four radio stations in the Kansas City radio market (KCFX-FM, KCIY-FM, KQRC-FM and KXTR-FM) from Sinclair Broadcast Group, Inc. for $126.6 million (the "Sinclair Kansas City Acquisition") and the simultaneous sale of three radio stations in the Kansas City radio market (KCFX-FM, KCMO-AM and KCMO-FM) to Susquehanna Radio Corp. for $113.0 million (the "Susquehanna Sale"). Entercom has previously announced that regulatory requirements would require it to divest three radio stations in the Kansas City radio market, where it already owned seven stations prior to the Sinclair Kansas City Acquisition. The purchase price of $126.6 million paid by Entercom was determined through arm's length negotiations between unrelated parties and was financed through borrowings under Entercom's senior credit agreement with a syndicate of banks, including Banc of America, N.A. and Key Corporate Capital Inc. and through the proceeds of the Susquehanna Sale. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) Financial Statements Financial Statements are not required pursuant to Rule 3-05(b) of Regulation S-X of the Securities Act of 1933, as amended. (b) Pro Forma Financial Information Pro Forma financial information is not required pursuant to Rule 11-01 of Regulation S-X of the Securities Act of 1933, as amended. (c) Exhibits 2.07 Asset Purchase Agreement, dated as of May 11, 2000, among Entercom, Entercom Kansas City, LLC, Entercom Kansas City License, LLC and Susquehanna Radio Corp. (See table of contents for list of omitted schedules and exhibits, which Entercom hereby agrees to furnish supplementally to the Securities and Exchange Commission upon request.* 99.1 Press Release (1) - ----------- 3 * Previously filed. (1) Filed herewith. 4 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ENTERCOM COMMUNICATIONS CORP. Date: August 3, 2000 By: /s/ David J. Field --------------------------------- David J. Field, President and Chief Operating Officer EX-99.1 2 ex99-1.txt PRESS RELEASE 1 EXHIBIT 99.1 [ENTERCOM LETTERHEAD] FOR IMMEDIATE RELEASE July 20, 2000 ENTERCOM COMPLETES ACQUISITION AND DIVESTITURE OF RADIO STATIONS IN KANSAS CITY (Bala Cynwyd, PA July 20, 2000) Entercom Communications Corp. (NYSE: ETM) today announced the completion of its acquisition of four radio stations from Sinclair Broadcast Group (KCFX-FM, KCIY-FM, KQRC-FM and KXTR-FM) for $126.6 million and the simultaneous sale of three radio stations (KCFX-FM and KCMO-AM, KCMO-FM) in Kansas City to Susquehanna Radio Corp. for $113 million. Federal regulations required the Company to divest three stations in the Kansas City market, where it already owned seven stations prior to the Sinclair acquisition. With this transaction Entercom now owns eight stations in Kansas City and is the largest radio station operator in the market. Entercom President and COO David J. Field commented, "We are pleased to complete this acquisition and realignment of our stations in Kansas City. With our revamped and improved station line-up we are significantly enhancing our ability to serve the needs of our listeners and advertisers." Paul Leonard of Star Media Group was the broker on the transaction with Susquehanna. Upon completion of announced transactions, Entercom will own or operate 95 stations in 18 markets including Boston, Seattle, Portland, Sacramento, Kansas City, Milwaukee, New Orleans, Memphis, Buffalo, Norfolk, Greensboro, Rochester, Greenville/Spartanburg, Wilkes-Barre/Scranton, Wichita, Madison, Gainesville/Ocala and Longview/Kelso, WA. Contact: Mr. Steve Fisher Executive VP and Chief Financial Officer (610) 660 5647 -----END PRIVACY-ENHANCED MESSAGE-----