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INFINITY BROADCASTING FILES FOR PUBLIC DEBT OFFERING

 INFINITY BROADCASTING FILES FOR PUBLIC DEBT OFFERING
 NEW YORK, March 3 /PRNewswire/ -- Infinity Broadcasting Corporation


(NASDAQ: INFTA) announced today that it has filed with the Securities and Exchange Commission a registration statement for the proposed public offering of $150,000,000 principal amount of senior subordinated notes due 2002.
 Infinity Broadcasting Corporation is the largest company in the United States whose business is exclusively devoted to owning and operating radio stations. Infinity currently owns and operates 17 radio stations serving 12 of the nation's largest radio markets, including all of the ten largest markets: WXRK-FM and WZRC-AM, New York; KROQ-FM, Los Angeles; WJMK-FM and WJJD-AM, Chicago; WYSP-FM, Philadelphia; KOME-FM, San Jose/San Francisco; WBCN-FM, Boston; WOMC-FM, Detroit; KVIL-AM/FM, Dallas/Ft. Worth; WJFK-FM, Washington, D.C.; KXYZ-AM, Houston; WJFK-AM/WLIF-FM, Baltimore; and WQYK-AM/FM, Tampa/St. Petersburg. Infinity has previously announced it has entered into an agreement to acquire New York radio station WFAN-AM for approximately $70 million, subject to certain closing conditions.
 Infinity expects to use the net proceeds from the offering of the subordinated notes to finance the acquisition of radio station WFAN-AM (including its working capital requirements) and to reduce outstanding borrowings under its credit agreement.
 The subordinated notes will be offered by a syndicate of underwriters comprised of Lehman Brothers, Merrill Lynch & Co. and Salomon Brothers Inc.
 The registration statement has not yet become effective and the subordinated notes may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
 This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the subordinated notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 3/3/92
 /CONTACT: Farid Suleman of Infinity Broadcasting, 212-750-6400/
 (INFTA) CO: Infinity Broadcasting Corporation ST: New York IN: ENT SU: OFR


GK-OS -- NY029 -- 4387 03/03/92 10:07 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Mar 3, 1992
Words:338
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