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Stock Market & Financial Investment News

News Breaks
February 6, 2013
16:31 EDTLNCLincoln National reports Q4 EPS $1.14, consensus $1.06
Reports Q4 revenue $2.96B, consensus $2.87B. Reports Book Value per Share, Including AOCI, of $55.14 vs. $44.94 a year ago, and Book Value per Share, Excluding AOCI, of $41.11.
News For LNC From The Last 14 Days
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December 19, 2014
15:20 EDTLNCLincoln National files automatic mixed securities shelf
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December 8, 2014
08:56 EDTLNCLincoln National to sell LFM to Entercom Comm for $105M plus working capital
Entercom Communications Corp. (ETM) announced that it has entered into a definitive agreement to acquire Lincoln Financial Media, or LFM, from Lincoln Financial Group (LNC) for $105M plus working capital. The transaction is subject to FCC and other customary regulatory approvals and closing conditions. The company expects that the deal will close in 2Q15. The agreement includes fifteen radio stations in the Atlanta, Denver, Miami and San Diego markets, and it will expand Entercom’s station portfolio to more than 130 stations in 26 markets. The $105M purchase price will be paid in the form of $77.5M in cash and $27.5M in new perpetual cumulative convertible preferred stock that will be issued to Lincoln. Entercom expects to finance the cash portion of the purchase price through a combination of its existing $50M revolver, cash on hand, and through other financing sources, if necessary. Entercom anticipates that it will begin operating the LFM stations under a time brokerage agreement which is expected to commence in late January following the usual Justice Department regulatory review. In order to comply with the FCC’s station ownership limitations, the Company plans to divest one FM station in the Denver market.

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