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."
"We had strong financial results in the first quarter, growing Adjusted EPS mid-single digits and generating $5.4 billion of free cash flow while investing in our six growth businesses and returning $3.2 billion to shareholders."