Clear Channel Communications, San Antonio, has filed its first round of station divestitures with the Federal Communications Commission as part of its pending merger with AMFM Inc., Dallas. Clear Channel announced March 6 agreements to sell 72 stations in 27 markets to companies including Cox Radio, Cumulus Media, Hispanic Broadcast-ing Corp., Infinity Broadcasting and Salem Communications. When Clear Channel announced plans for the $56 billion merger in October, it estimated that 125 radio stations would be sold to comply with FCC ownership limits. Additional required divestitures will be announced in the future.
Copyright March 2000, Crain Communications Inc.