Security Bank Its: CBS Radio will take on $1.5 million of debt ahead of its initial IPO, Reuters is reporting. The debt offering will be split between bonds and loans and could come before the end of the year. CBS Radio had revenue of $1.23 billion last year. More here.

Beasley's merger with Greater Media will likely cost $11.7 million, according to the most recent SEC filing. Company debt once the transaction is complete will top $265 million and Greater Media stockholders will own 19% of the merged company. More here.