Jacor Communications said it will acquire Citicasters in a $774 million deal that will create the nation's fourth largest radio company. The deal between the two Cincinnati-based companies will increase Jacor's radio holdings from four to six stations in Cincinnati, from four to eight in Denver, from two to four in Tampa and from one to two Atlanta. Overall, Jacor will acquire 14 FM radio stations, five AM stations and two network-TV affiliates. The deal follows Jacor's $152 acquisition of San Diego-based Noble Broadcast Group, announced last week.
Copyright January 1996 Crain Communications Inc.