American Radio Systems to Acquire KEZN-FM, Palm Springs, Calif.BOSTON--(BUSINESS WIRE)--Oct. 1, 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 station KEZN-FM, serving Palm Springs, Calif., from Classic Broadcasting Inc. The station will be acquired for approximately $5,100,000. 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 regulatory approval. American expects to begin programming and marketing the station pursuant to a Local Management Agreement commencing today. Peter Handy of Star Media Group represented the seller in this transaction. In an unrelated transaction, American Radio has reached an agreement to sell radio station KFNS-AM in St. Louis to Missouri Sports Network, L.L.C. The station will be sold for approximately $3,750,000. American Radio Systems Corp. began trading shares publicly in June, 1995. The company owns and/or programs and markets approximately 100 radio stations in Boston, Seattle, Cincinnati, Baltimore, Pittsburgh, Portland, Sacramento, St. Louis, Charlotte, Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , 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 Francisco/San Jose, West Palm Beach, Rochester, Fresno and Riverside. The company also has options and/or agreements to buy additional radio stations in Portland, San Francisco/San Jose, West Palm Beach, Kansas City, St. Louis and Riverside. On Sept. 19, 1997, American Radio Systems entered into an agreement to sell its radio broadcasting The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. operations to a subsidiary of Westinghouse Electric Corp. Consummation of the transaction is subject to regulatory approval. CONTACT: American Radio Systems Joe Winn or Bruce Danziger, (617)375-7500 |
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