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Beasley And CBS Radio Swap Stations:

Beasley is exchanging its five stations in Philadelphia and Miami, including Country stations WXTU/Philadelpha and WKIS/Miami, for 14 CBS Radio stations in Tampa, Charlotte and Philadelphia. Those properties include Country stations WQYK/Tampa and WSOC/Charlotte. The transaction is expected to close this year. "Throughout Beasley Broadcast Group's 53-year history, we have actively managed our station portfolio with the goal of serving the local communities where we operate, diversifying our operations, managing risk and improving financial results," says Beasley Chairman George G. Beasley. "The asset exchange agreement with CBS Radio addresses all of these strategic objectives as, upon completion, we will expand our station base by nine stations and add completed clusters in Tampa and Charlotte which complement our already strong mid-Atlantic presence. Furthermore, the transaction is also consistent with our long-term strategy to operate leading clusters in large- and mid-size markets." More later in Country Aircheck Today (10/2).