American Radio Systems announces transaction to exchange WHAM-AM, WHTK-AM and WVOR-FM for WKRQ-FM, Cincinnati, Ohio.BOSTON--(BUSINESS WIRE)--Dec. 27, 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 reached an agreement to exchange radio stations WHAM-AM, WHTK-AM and WVOR-FM in Rochester, New York This article is about the city of Rochester in Monroe County. For the town in Ulster County, see Rochester, Ulster County, New York. Rochester, once known as The Flour City, and more recently as The Flower City or , and $16 million in cash to Jacor Communications Inc. for WKRQ-FM in Cincinnati. In addition, American will assign to Jacor its option to purchase WNVE-FM, Rochester from the Great Lakes Great Lakes, group of five freshwater lakes, central North America, creating a natural border between the United States and Canada and forming the largest body of freshwater in the world, with a combined surface area of c.95,000 sq mi (246,050 sq km). Wireless Talking Machine Limited Liability Corp. 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, "We're delighted to enter the Cincinnati market, which we view as one of the most attractive in the country. And we're especially happy to be able to do so with a market leader of the quality of WKRQ. We also believe that we are putting WHAM, WHTK and WVOR in the hands of a very fine and experienced broadcaster who understands these properties and will continue to move them forward." American Radio Systems Corp. began trading shares publicly in June, 1995 on NASDAQ. The company owns and/or manages 46 FM and 23 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, West Palm Beach, Rochester, Dayton and Fresno. The company also has options and/or agreements to buy additional radio stations in Boston, Baltimore, Sacramento, San Jose, West Palm Beach, Rochester, Dayton and Fresno. In addition, on Aug. 5, 1996 the company announced that it had reached an agreement to merge with EZ Communications Inc. EZ Communications owns and/or operates 23 radio stations in seven markets nationwide. CONTACT: American Radio Systems Corp. Joe Winn or Bruce Danziger, 617/375-7500 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion