American Radio Systems acquires KDBX-FM Portland, Oregon.BOSTON--(BUSINESS WIRE)--April 1, 1996--American Radio Systems Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AMRD AMRD Army Modernization Reference Data AMRD Accidental Magic Reversal Department (Harry Potter and the Prisoner of Azkaban) AMRD Automatic Message Routing Device AMRD Ami Mega Raid ) announced today that it has signed a purchase and sale agreement to acquire the assets of radio station KDBX-FM in Banks, Ore., from Salem Communications Salem Communications (NASDAQ: SALM) is a media company specializing in religious and conservative talk radio which operates in the United States, with 99 U.S. commercial radio stations (pending acquisitions) that are primarily concentrated in the nation's biggest markets, Corp. The station, which will be acquired for approximately $14,000,000, maintains a signal with strong coverage of the Portland market. Consummation of the transaction is subject to the approval of the Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. . American Radio Systems currently has an agreement to purchase KUFO-FM and KBBT-AM in Portland. Elliot Evers of Media Venture Partners acted as the broker in this transaction and Gary Stevens
American Radio Systems Corp. began trading shares publicly in June 1995 on NASDAQ. The company owns and/or manages 15 FM and nine AM stations in Boston, Baltimore, Hartford, Austin, Buffalo, West Palm Beach, Rochester and Dayton. The company also has options and/or agreements to buy additional radio stations in Boston, Philadelphia, Detroit, Sacramento, Hartford, Buffalo, Las Vegas, West Palm Beach, Rochester, Fresno, Omaha and Dayton. CONTACT: American Radio Systems Corp. Joe Winn, 617/375-7500 |
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