Lincoln National sells radio stations as insurer exits media

December 8, 2014 by Zachary Tracer

(Bloomberg) — Lincoln National Corp. is divesting the last pieces of a media business it acquired eight years ago as the company focuses on sales of life insurance and retirement products.

Entercom Communications Corp. agreed to pay $105 million for Lincoln Financial Media, gaining 15 radio stations in markets including Atlanta, Denver and Miami, the Bala Cynwyd, Pennsylvania-based broadcaster said today in a statement. Entercom will pay $77.5 million in cash and $27.5 million in convertible preferred stock. Click here to read…

Originally Posted at LifeHealthPro on December 8, 2014 by Zachary Tracer.