Jim Cramer, host of CNBC’s Mad Money weighed in on the most talked about radio merger – Entercom and CBS. During this episode, Cramer provides an in-depth analysis of the merger. He refers to it as a “transformational deal for Entercom” giving Entercom “a lot more heft – it will make it the #1 creator of local content in America.” He goes on to say that the new Entercom will become the second largest radio company in America.
Cramer addresses any negative perceptions his audience may have about radio by quoting stats shared by Entercom president and CEO, David Field. “Radio reaches more Americans than any other entertainment medium.” He refers to radio’s role in-car as the medium that people listen to because “you can’t play with your smartphone while you are driving.”
He’s excited by one of the positives of the deal – it will combine the live events business of both companies – ranging from over 4500 concerts, music festivals to a speaker series. As a believer in experiential economy, Cramer sees that millennials, who are apt to pay more for live events, will cause this merger to be a favorite among millennials.
If you are not familiar with Cramer’s style, he is a roll-up sleeve, fast-talking and excited speaker but his enthusiasm is real. He closes the segment by giving his viewers sound advice: “As long as there are cars with human drivers, there will be radio.”
Click here to watch Jim Cramer share his views