If you would’ve told me that Greater Media, owners of 97.5 The Fanatic, WMMR, and WMGK, would sell before CBS Radio, which has been for sale officially or otherwise for about a year, I would’ve been mildly morowed. Indeed I am.

From RadioInk.com:

Here are the details on the blockbuster deal announced Tuesday night. Beasley will pick up Greater Media’s 21 stations in seven markets. Greater Media shareholders are expected to receive $100 million in cash and $25 million in shares of the Company’s Class A common stock (at a fixed value of $4.61 per share).

In addition, the shareholders of Greater Media will receive the net cash proceeds from the sale of its tower assets, estimated to be approximately $20 million. Beasley will refinance approximately $80 million of debt of Greater Media.

…

Beasley picks up the 21 stations in seven markets: Detroit, MI; Middlesex, NJ; Monmouth, NJ; and, Morristown, NJ. In three of those markets Beasley has existing operations: Philadelphia, PA; Boston, MA; and, Charlotte, NC.

From Inside Radio:

“We share with Beasley a common appreciation for the enduring strength of local radio broadcasting and we are delighted that our stations will become part of Beasley’s expanded footprint,” Greater Media CEO Peter Smyth says. “As part of the Beasley portfolio, we believe our stations will be positioned extremely well for future growth and that our team members, customers and the communities we serve will continue to thrive.”

97.5 sources were immediately unsure what this might mean. Certainly, recent minor cuts to weekend programming at the station, followed by the shuttering of Greater Media’s sports talk radio station in Detroit, were signs that something was afoot, but a sale seems to have cost most off-guard. Beasley is a public company, held a bit more to the pressures of investor demands. We’ll likely learn more in the coming days and weeks as to what this could mean, but it’s hardly a doom and gloom scenario. In fact, little may change. At least that seems to be the early takeaway.

I’ll speak to some folks over the coming days and let you know if there’s anything more. CBS Radio remains on the block. THE NOTES SHOUT: