Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

Merger creates new radio giant

Published on .

In the latest radio mega-merger, Clear Channel Communications, San Antonio, said it is acquiring Jacor Communications for $4.4 billion in stock and assumed debt, creating the nation's new No. 2 radio broadcaster with potentially 454 stations in 101 cities. The deal is expected to close in September 1999 and must win U.S. Justice Department approval, which could affect how many stations the new company can keep. In Cleveland, 51% of the radio market would be controlled by the new group. Chancellor Media Corp. and Capstar Broadcasting Corp. in August agreed to combine, creating a group with 471 stations.

Copyright October 1998, Crain Communications Inc.

Most Popular
In this article: