Westinghouse to Get 2 L.A. Radio Stations in Swap

Westinghouse Electric Corp. said its CBS Radio unit will swap three of its radio stations for two Los Angeles stations owned by closely held Greater Media Inc. in a tax-free transaction. CBS Radio will acquire KLSX-FM and KRLA-AM while Greater Media will get two Boston radio stations, WBOS-FM and WOAZ-FM, and one in Philadelphia, WMMR-FM.

The transaction would give the Pittsburgh-based media and power generation company eight stations in L.A. and would satisfy CBS’ pact with the Justice Department to divest the Boston and Philadelphia stations after its purchase of Infinity Broadcasting Corp.