In Philadelphia, Bob Fernandez notes Entercom shareholders yesterday "approved a merger with troubled CBS Radio that will transform" the company into the nation’s No. 2 radio operator. The deal is "expected to close" tomorrow. Entercom Founder & Chair Joseph Field has said that the merger "will create a national platform for advertisers, particularly for its sports shows." He called radio "the most undervalued medium in the U.S." The Entercom-CBS Radio "will own and operate 235 radio stations in 48 of the top 50 markets, reaching 100 million listeners." The only "larger radio operator is iHeartRadio" (PHILADELPHIA INQUIRER, 11/16).
ON SOLID GROUND? In L.A., Meg James notes Fox yesterday held its annual shareholders meeting, which had only a brief mention of Disney's "approach to the Murdoch family in recent months to inquire about buying key Fox properties." Fox co-Chair Lachlan Murdoch "dismissed the notion that Fox is too small to compete in a rapidly consolidating media landscape." Helped by its broadcast of Super Bowl LI, Fox in its FY '17, which ended June 30, "produced 4% higher revenue" compared with FY '16 (L.A. TIMES, 11/16).
BEST OF THE REST: ESPN’s Tony Kornheiser said of a potential soccer event over the summer for non-World Cup teams, including the U.S., "In this country, the ratings are going to be spectacular. ... I’ll bet ESPN would bid on this thing right now" ("PTI," ESPN, 11/15). The Washington Post’s Kevin Blackistone said, "Comes off as pathetic to me. ... I’m certainly not watching an NIT of the World Cup.” But ESPN’s Pablo Torre said, “This is a great idea. ... We are in no position to turn down soccer opportunities" ("Around the Horn," ESPN, 11/15).
