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Beasley Broadcast Group closes asset exchange with Entercom

Beasley Broadcast Group Inc. closed the exchange of WMJX-FM, 106.7MHz Boston and $12 million cash for WBZ-FM, 98.5 MHz Boston from Entercom Communications Corp.

The asset exchange is expected to be accretive to Beasley Broadcast Group's financial results and enhance shareholder value, the company's CEO Caroline Beasley said Dec. 20.

In November, Entercom struck a series of deals in connection with its merger with CBS Radio Inc, including a settlement with the Antitrust Division of the U.S. Department of Justice.