American Radio Systems acquires KJMZ-FM, Las Vegas, Nev.BOSTON--(BUSINESS WIRE)--April 22, 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 radio station KJMZ-FM, in 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. , Nev., from Parker Communications. The station will be acquired for approximately $8,000,000. Consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like. 2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished. 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 will be responsible for the management of the station under a local marketing agreement commencing immediately. The company currently has agreements to acquire KLUC-FM, KXNO-AM, KMZQ-FM, KFBI-FM and KVEG-AM in Las Vegas from other sellers. Elliot Evers of Media Venture Partners represented Parker Communications in this transaction. 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, Portland, Sacramento, Hartford, Buffalo, West Palm Beach, Rochester, Fresno, Omaha and Dayton. CONTACT: American Radio Systems Joe Winn or Bruce Danziger, 617/375-7500 |
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