American Radio Systems acquires WAAF-FM/WWTM-AM, Boston/Worcester, Mass.BOSTON--(BUSINESS WIRE)--July 31, 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 stations WAAF-FM and WWTM-AM, serving Boston and Worcester The following companies have been known as Boston and Worcester, running between the towns of Boston and Worcester, Massachusetts:
The stations will be acquired for approximately $24,800,000. 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 owns WBMX-FM, WEGQ-FM, WRKO-AM and WEEI-AM in Boston. American Radio Systems will be managing the stations under a local marketing agreement commencing August 1. David Pearlman, American's co-chief operating officer, stated, "We consider this a terrific complement to our existing Boston properties Boston Properties, Inc. (NYSE: BXP) is a self-managed real estate investment trust (REIT) based in Boston, Massachusetts. Its primary focus is "Class A" office space which it acquires, develops, and manages in the major markets of Boston, New York City, Washington, D.C. . We look forward to working with Bruce Mittman and his highly talented staff in continuing growth of these fine radio stations." Peter Handy of Star Media Group represented Zapis Communications in this transaction. American Radio Systems Corp. began trading shares publicly in June 1995 on NASDAQ. The company owns and/or manages 32 FM and 18 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, West Palm Beach, Rochester, Fresno, Omaha and Dayton. The company also has options and/or agreements to buy additional radio stations in Baltimore, Portland, Sacramento, Las Vegas, San Jose, Buffalo, West Palm Beach, Rochester, Fresno and Dayton. CONTACT: American Radio Systems Corp. David Pearlman, 617/375-7500 |
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