Entercom Greensboro, LLC and Entercom License, LLC entered into a definitive agreement to acquire WBT-FM, WLNK-FM, WBT-AM, WFNZ-AM radio stations and an FM translator in Charlotte from Beasley Broadcast Group Inc. (NasdaqGM:BBGI) for $24 million in cash on October 17, 2016. Pursuant to the terms of the agreement, Entercom will acquire WBT-FM, WLNK-FM and WBT-AM, all of which are currently owned by Greater Media and held in trust pending the completion of Beasley’s acquisition of Greater Media. Entercom will also acquire Beasley’s WFNZ-AM in Charlotte and an FM translator. The deal is subject to FCC approval, other regulatory approvals, the closing of Beasley’s acquisition of Greater Media and other customary closing conditions. As announced on November 2, 2016, Beasley Broadcast completed the acquisition of Greater Media. The transaction is expected to close in either late fourth quarter of 2016 or early in the first quarter of 2017. Beasley intends to use the net proceeds from the sale of the four stations to reduce the borrowings required to complete the Greater Media transaction. Michael J. Bergner of Bergner & Co. acted as the broker in the transaction. Entercom Greensboro, LLC and Entercom License, LLC completed the acquisition of WBT-FM, WLNK-FM, WBT-AM, WFNZ-AM radio stations and an FM translator in Charlotte from Beasley Broadcast Group Inc. (NasdaqGM:BBGI) on January 6, 2017.