When the deal is completed, Connoisseur Media will consist of 218 radio stations in 47 markets, covering roughly 20% of all United States radio markets.
"As production costs for physical advertising and digital elements continue to rise, local business advertising budgets are under increasing pressure."
The Commission has warned a property owner in Jamaica Plain, who may face fines of up to $2.4 million due to an unlicensed signal emanating from her building.
"We look forward to taking Rivals to new heights with significant new investment focused on recruiting, high school sports, and passionate college fan communities.”