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Ad group says $2.8 bil Clear Channel deal OK

Published on .

Ad groups are unlikely to challenge Clear Channel Communications' $2.8 billion buy the week of October 5 of Jacor Communications, as long as Clear Channel divests itself of stations in Cleveland; Dayton, Ohio; Louisville, Ky.; and Tampa, Fla. In those cities, the deal would give Clear Channel more than 40% of each market. While joining the rush to consolidation in the radio industry, Clear Channel's deal mostly includes stations in markets where the company had either no presence or only a small presence, a spokesman for the American Association of Advertising Agencies said.

Copyright October 1998, Crain Communications Inc.

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