The announcement of Entercom Communications Corp.'s (NYSE:ETM) new "ESPN on WEEI" program failed to excite investors, as the radio communications company's micro cap stock was lower in late trading on Wednesday.
According to the Radio and Television Business Report, the company's WEEI Radio will divide its AM/FM simulcast in two and start broadcasting ESPN Radio on 850 AM. The station will feature ESPN's national programming lineup, including the entire Major League Baseball postseason, the NBA and NCAA sports.
WEEI's local talk show lineup will now be heard on 93.7 FM, which will also simulcast Red Sox baseball games, Celtics basketball games and Patriots football.
"Since 1991, WEEI has been the gold standard in sports radio. This strategic alliance with ESPN allows WEEI to deliver to the most passionate sports fans in America the very best in local sports talk and play-by-play on WEEI FM and the very best in national sports talk and play-by-play with ESPN on WEEI AM," said Jeff Brown, Entercom Vice President and Market Manager.
However, the split did not appear to sit well with investors. As of 3:30 p.m. on Wednesday, September 19, the company's stock was down 6.1 percent to $6.74.