Evergreen adds more stations

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Evergreen Media Corp., Irving, Texas, has signed a definitive agreement to acquire Pyramid Communications, Medford, Mass., owner of 12 radio stations in five markets, for $306.5 million. Evergreen owns and operates 22 radio stations across the U.S. Because the combination of the Evergreen and Pyramid stations includes five FM stations in Chicago, four FM stations in Charlotte, N.C., and a total of 23 FM stations, Evergreen will either divest certain stations or seek waivers of the FCC's multiple ownership rules, which limit the number of FM stations which any company may hold to 20 nationally and two in any one market.

Copyright July 1995 Crain Communications Inc.

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