Jacor to acquire EFM Media

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Jacor Communications, Inc., one of the nation's largest operators of radio stations, Tuesday announced it was acquiring EFM Media Management, which owns and distributes syndicated radio talk shows of Rush Limbaugh and Dr. Dean Edell. Jacor President Randy Michaels said the acquisition of EFM gives the company a footing in the content side of the radio business which they will use as a platform for additional programs. "Our mission is to build audiences on radio stations," said Mr. Michaels.

Additionally, Mr. Limbaugh agreed to extend his contract into the next century. Limbaugh said he currently has no plans to return to TV or the movies. Regarding rumors that he might be joining Fox and Roger Ailes, Mr. Limbaugh said, "I may help him on a spot basis, but there's no plans to do a five day a week show [on Fox]."

Terms of the Jacor/EFM Media deal were not disclosed. It is expected to be finalized within the next several weeks pending federal regulatory review.

Copyright March 1997, Crain Communications Inc.

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