Greater Media, which owns four popular Philadelphia radio stations, has agreed to be sold to Beasley Broadcast Group for $240 million.
Naples, Florida-based Beasley will initially acquire 21 radio stations in seven markets, including Philadelphia, where it already has existing operations.
Braintree, Mass.-based Greater Media’s four properties in Philadelphia include: rock station 93.3 FM (WMMR), classic rock station 102.9 FM (WMGK), pop station 95.7 BEN FM and sports talk station 97.5 The Fanatic (WPEN). It also has 17 stations combined in Boston, Charlotte, Detroit and New Jersey.
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Late last month, Greater Media announced a round of layoffs due to restructuring. There is no word if those cuts were a precursor to the Beasley deal.
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