11 3/8 Percent Cumulative Exchangeable Preferred Stock Dividend.

BOSTON--(BUSINESS WIRE)--Sept. 22, 1997--American Radio Systems Corp. (NYSE NYSE

See: New York Stock Exchange :AFM (Atomic Force Microscope) A device used to image materials at the atomic level. AFMs are used to solve processing and materials problems in electronics, telecom, biology and other high-tech industries. ) has declared that a dividend of $2.84 per share will be payable on Oct. 15, 1997 to each record holder of its 11 3/8 percent Cumulative Exchangeable Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders.

Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. as of the close of business on Oct, 1, 1997. This dividend will be paid in cash.

American Radio Systems Corp. began trading shares publicly in June, 1995. The company owns and/or programs and markets approximately 100 radio stations in Boston, Seattle, Cincinnati, Baltimore, Pittsburgh, Portland, Sacramento, St. Louis, Charlotte, Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Hartford, Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Austin, Buffalo, San Francisco/San Jose, West Palm Beach, Rochester, and Fresno. The company also has options and/or agreements to buy additional radio stations in Portland, San Francisco/San Jose, West Palm Beach, Kansas City, St. Louis and Riverside.

On September 19, 1997, American Radio Systems entered into an agreement to sell its radio broadcasting operations to a subsidiary of Westinghouse Electric Corp. Consummation of the transaction is subject to regulatory approval.

CONTACT: American Radio Systems Corporation

Joe winn, Bruce Danziger

617/375-7500

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Publication:	Business Wire
Date:	Sep 22, 1997
Words:	182
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