Multi-Market Radio adds third Myrtle Beach station.NEW YORK--(BUSINESS WIRE)--Aug. 29, 1996--Multi-Market Radio Inc. (Nasdaq: RDIOA) today announced that it has acquired radio station WMYB(FM), serving the Myrtle Beach, S.C., market from Puritan Radiocasting Co. for $1.1 million.Multi-Market Radio has been providing programming and sells advertising on behalf of the station pursuant to a Local Marketing Agreement (LMA LMA left mentoanterior (position of fetus). ). The company currently owns and operates radio station WYAK(FM) and provides programming and sells advertising on radio station WVCO WVCO Willamette Valley Company (FM) pursuant to an LMA with an option to purchase; both stations serve the Myrtle Beach market. Commenting on the acquisition, Michael G. Ferrel, president and chief executive officer, said, "We are very pleased to now own this station which joins our two hot country stations creating a strong Myrtle Beach cluster. WMYB, which plays 70s rock, is a good complement to our other stations. We are extremely proud of the clusters of stations we have been creating in this region, and look forward to their continuing contributions to revenues and broadcast cash flow." Millard S. Younts of Media Services Group brokered the transaction. In April 1996, SFX SFX Special Effects SFX Self Extracting (data compression) SFX SpreadFireFox (IRC) SFX Sound Effect(s) SFX Side Effects (counter-strike gaming clan) Broadcasting Inc. (Nasdaq: SFXBA) announced that it would acquire Multi-Market Radio. MMR MMR measles-mumps-rubella (vaccine); see measles, mumps, and rubella vaccine live, under vaccine. MMR abbr. measles, mumps, rubella vaccine common stock shareholders will receive the stock equivalent of $12.00 per common share, subject to adjustment. It is anticipated that this transaction will close within the next 60 days subject to shareholder approval and 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. and certain other conditions. There can be no assurance that the transaction will be consummated. Multi-Market Radio, headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , currently owns, provides programming for, sells advertising on behalf of or has agreed to acquire the following 13 stations in seven markets: WKSS(FM) Hartford, CT(a) WHMP(FM) Springfield/Northampton, MA WPKX(FM) Springfield/Northampton, MA WHMP-AM Springfield/Northampton, MA WPLR(FM) New Haven, CT WYBC(FM) New Haven, CT(b) WGNE WGNE Working Group on Numerical Experimentation (FM) Daytona Beach, FL WCHZ(FM) Augusta, GA(b) WKNN(FM) Biloxi, MS WMJY(FM) Biloxi, MS WVCO(FM) Myrtle Beach, SC(c) WYAK(FM) Myrtle Beach, SC WMYB(FM) Myrtle Beach, SC (a) Under contract to be acquired (b) Joint Selling Agreement (c) Local Marketing Agreement In addition, the company owns KOLL(FM) in Little Rock, AR, which is under contract to be sold. CONTACT: Multi-Market Radio Inc., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Cynthia A. Bond, 212/407-9126 |
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