American Radio Systems acquires KFRG-FM, San Bernardino, Calif.BOSTON--(BUSINESS WIRE)--April 3, 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 today that it has reached an agreement to acquire radio stations KFRG-FM in Riverside/San Bernardino, Calif., and KXFG-FM in Sun City, Calif. from Amaturo Group of California, Ltd. The stations will be acquired for approximately $60,000,000. Consummation of the transaction is subject to regulatory approval. Steve Dodge, American's chairman and 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, "Acquiring KFRG-FM gives us strong access to another dynamic growth market. Already 26th ranked among metros nationally, Riverside/San Bernardino is California's fastest growing area. And KFRG KFRG Kidnap-for-Ransom Group (criminal organization) is a well-run and successful Country radio station, arguably one of the nation's best. We appreciate the fine job Joe Amaturo and General Manager Tom Hoyt have done building this market leader." American Radio Systems Corp. began trading shares publicly in June 1995. The company owns and/or programs and markets 47 FM and 24 AM stations in Boston, Baltimore, Portland, Sacramento, 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 Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , West Palm Beach, Rochester, Dayton, Cincinnati and Fresno. The company also has options and/or agreements to buy additional radio stations in Cincinnati, West Palm Beach, Rochester, and Fresno. In addition, on August 5, 1996 the company entered into a merger agreement with EZ Communications Inc. EZ Communications owns and/or programs and markets 23 radio stations in seven markets nationwide. CONTACT: American Radio Systems Joe Winn/Bruce Danziger 617/375-7500 |
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