The owner of four Austin radio stations is getting even bigger.
Philadelphia-based Entercom said Thursday it is merging with CBS Radio, which is based in New York.
The combined companies have 244 stations in 47 markets, including Austin, Dallas and Houston. They will operate under the Entercom name, with a corporate headquarters in Philadelphia.
A purchase price was not disclosed, but the companies said the deal would be structured as a Reverse Morris Trust, which would be tax-free to CBS and its stockholders.
In Austin, Entercom owns Mix 94.7, Majic 95.5, 96.3 RnB and Talk Radio 1370.
It’s a reunion of sorts for the Austin stations, which Entercom acquired from CBS Radio a decade ago when the company was divesting its properties in smaller markets.