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INFINITY BROADCASTING CORPORATION SECONDARY OFFERING OF CLASS A COMMON STOCK

 NEW YORK, Dec. 8 /PRNewswire/ -- Infinity Broadcasting Corporation (NASDAQ-NMS: INFTA) announced the public offering of 5,550,000 shares of Class A Common Stock. 4,800,000 of the shares are being offered by merchant banking partnerships affiliated with Lehman Brothers Inc., and the remainder of the shares are being offered by certain officers of Infinity. The Lehman merchant banking partnerships have also granted the underwriters an option to purchase up to 832,500 additional shares of Class A Common Stock solely to cover over-allotments. Infinity is not selling any shares of stock in the offering.
 The underwriting group will be co-managed by Lehman Brothers, Alex. Brown & Sons Incorporated, Donaldson, Lufkin & Jenrette Securities Corporation, Merrill Lynch & Co., Salomon Brothers Inc and Smith Barney Shearson Inc.
 Infinity Broadcasting Corporation is the largest company in the United States whose business is exclusively devoted to radio broadcasting. Upon completion of the pending acquisitions referred to below, Infinity will own and operate 25 radio stations serving 13 of the nation's largest radio markets, including all of the 10 largest markets. Infinity has entered into agreements to acquire radio stations KRTH-FM in Los Angeles and WPGC-FM/AM in Washington, D.C. Infinity also manages the radio network business of Unistar Radio Networks, Inc. and has entered into a previously announced agreement with Westwood One, Inc. under which, among other things, Westwood One would acquire Unistar, Infinity would acquire shares of, and a warrant to purchase, approximately 25% of the common stock of Westwood One, and Infinity would enter into a management agreement to manage the operations of Westwood One.
 -0- 12/8/93
 /CONTACT: Farid Suleman, chief financial officer of Infinity Broadcasting, 212-750-6400/
 (INFTA)


CO: Infinity Broadcasting Corporation ST: New York IN: ENT SU: OFR

GK-MP -- NY024 -- 1644 12/08/93 09:30 EST
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Publication:PR Newswire
Date:Dec 8, 1993
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