Major radio merger announced

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Evergreen Media Corp. and Chancellor Broadcasting Co. announced a merger and said the combined company will acquire Viacom International's 10 radio stations for $1.075 billion. The new company, Chancellor Media Corp., will be one of the largest radio groups and operate 103 radio stations in 21 major U.S. markets, including stations in each of the top 12 U.S. radio markets. Thomas O. Hicks, chairman-CEO, Hicks, Muse, Tate & Furst, is chairman of Chancellor Media and Evergreen Media Chairman-CEO Scott K. Ginsburg is president-CEO of the combined company.

Copyright February 1997, Crain Communications Inc.

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