The deal, which must be approved by federal regulators, also involves a $1 million payment by Salt Lake City-based Bonneville to Entercom Communications Corp. of Bala Cynwyd, Pa.

With the transaction, Bonneville is returning to the Seattle market after a 10-year absence and adding the Cincinnati market. The company, owned by The Church of Jesus Christ of Latter-day Saints, will retain one San Francisco station: KOIT-AM.

The transaction gives Bonneville strong positions in Seattle and Cincinnati to expand its news, talk and music formats, the company said.

"We [are giving up] three stations and we're gaining seven, for a net increase of four stations that we have a chance to grow," spokesman Craig Haslam said Thursday. "That's something we do well, and we have new opportunities to do that."

Bonneville is giving up San Francisco stations KOIT-FM, a contemporary hits station; KDFC-FM, a classical music station; and KMAX-FM, an eclectic "Jack" music format station. The company will keep KOIT-AM, a news and talk radio station.

In return, Bonneville will get Seattle stations KIRO-AM, a news and talk station; KBSG-FM, an oldies station; and KTTH-AM, a talk radio station. Bonneville sold KIRO in 1996 after owning it for 30 years.

Bonneville also gets Cincinnati stations WUBE-FM, a country station; WYGY-FM, which plays young country music; WKRQ-FM, an adult contemporary station; and WSWD-FM, a new-rock station.

When the deal closes, privately held Bonneville will own 32 radio stations in six cities. It also owns KSL-TV in Salt Lake.