American Radio Systems Announces Radio Station Exchange with Entercom.BOSTON--(BUSINESS WIRE)--July 21, 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. ) announced that it has entered into a series of agreements whereby it will convey radio stations KUDL-FM and WDAF-AM in 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). and KCTC-AM in Sacramento, along with $3,000,000 in cash, to Entertainment Communications Inc. (Entercom) in exchange for radio station KLOU-FM in St. Louis. Consummation of the transaction is subject to regulatory approval. Steve Dodge, American's chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "We are fortunate to be acquiring a terrific radio station in KLOU-FM which will help solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. our position in St. Louis. At the same time, we are pleased to be able to maintain a significant presence in Kansas City with four excellent FM's. The downside to this deal is that John Gehron won't be able to hear his music on one of our stations in Sacramento." 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, 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 Boston, Portland, San Francisco/San Jose, Pittsburgh, West Palm Beach and Riverside. CONTACT: American Radio Systems Corp. Bruce Danziger/Joe Winn 617-375-7500 |
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