American Radio Systems acquires WSJZ-FM, Buffalo, N.Y.BOSTON--(BUSINESS WIRE)--April 16, 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 WSJZ-FM in Buffalo, N.Y., from Evergreen Media Corp. The station will be acquired for approximately $12,500,000. 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 WYRK-FM, WJYE-FM and WECK-AM in Buffalo, and has an option to acquire WBLK-FM, which it is managing under a local marketing agreement. As part of this transaction, American will be responsible for the management of WSJZ-FM under a local marketing agreement commencing immediately. Steve Dodge, 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, "We are excited about this acquisition because it will enable us to provide an improved overall product and level of service to our clients in Buffalo. The purchase of WSJZ is indicative of our commitment to and confidence in Buffalo as a strong and vibrant market." Peter Handy of Star Media Group acted as the broker in this transaction. American Radio Systems Corp. began trading shares publicly in June 1995 on NASDAQ. The company owns and/or manages fifteen 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, 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. , West Palm Beach, Rochester, Fresno, Omaha and Dayton. CONTACT: American Systems The term American System can mean one of the following:
Joe Winn or Bruce Danziger, 617/375-7500 |
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