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PYRAMID BROADCASTING AND ATLANTIC RADIO ANNOUNCE PLANS TO MERGE, FORMING BOSTON RADIO GROUP

 PYRAMID BROADCASTING AND ATLANTIC RADIO ANNOUNCE PLANS TO MERGE,
 FORMING BOSTON RADIO GROUP
 BOSTON, Sept. 2 /PRNewswire/ -- Pyramid Broadcasting, owner of 11 radio stations including KISS 108 FM and WXKS-AM in Boston, and Atlantic Radio, owner of four stations including MIX 98.5, WRKO, and the Red Sox Radio Network, also in Boston, have agreed to a merger of their two companies. As well, Atlantic has negotiated a contract to acquire WHDH- AM and to include the station in the deal.
 Both Atlantic and Pyramid also have stations in Rochester, N.Y. -- with Atlantic owning WRMM-AM&FM ("Warm 101.3"), and Pyramid owning WPXY-AM&FM. In addition, Pyramid owns WNUA-FM, Chicago, WYXR-FM, Philadelphia, WRFX-FM, Charlotte, WHTT-FM&AM, Buffalo, and WPIT-FM&AM, Pittsburgh. Pyramid's head office is in Medford, Mass., and Atlantic's is in Manchester, Mass.
 Steve Dodge, currently chief executive officer of Atlantic, will be chairman and chief executive officer of the newly formed Boston Radio Group, handling the company's overall strategic direction, financing and growth. Rich Balsbaugh, currently CEO of Pyramid Broadcasting, will be president and chief operating officer handling the stations' operations, management and promotion. Although financials details are not being release, each will be substantial shareholders in Boston Radio Group.
 The merger of the stations will result in several staffing changes. This includes John Madison of Pyramid becoming vice president and general manager of both Boston FM stations, as well as WXKS-AM, and Dick Penn of Atlantic being named vice president/general manager of both WRKO and WHDH. As well, Ken O'Keefe of Pyramid and Joe Winn of Atlantic have both been named executive vice presidents for the new entity.
 The planned merger will have a significant effect, especially on Boston Radio. On the FM dial, the merger combines Boston's number one radio station, KISS 108 FM, with the hottest new station to make the scene in years, WBMX-FM (MIX 98.5). On the AM dial, the merger joins talk radio giants WRKO and WHDH. The strong sales, marketing, and promotion entity this creates will superserve the Boston market.
 Dodge says of the merger: "We have the greatest respect for KISS 108 and the company Pyramid has built. The new FCC ownership rules are allowing us to combine our strengths in what should become a powerful group of stations. The synergies here-- of both people and assets -- should be fantastic."
 Balsbaugh is equally optimistic: "This merger will create a significant programming and selling force in the Boston market. While some questions remain unanswered -- such as where are final location will be, and what staffing changes will need to take place -- that's all part of the excitement. And we are certainly aware of the potential this merger has in other markets as well."
 The merger is expected to be finalized by year end, subject to FCC approval. The stations will begin working in tandem effective immediately.
 -0- 9/2/92
 /CONTACT: Leslie Bonnyman of Cone Communications, 617-227-2111, for Pyramid Broadcasting/ CO: Pyramid Broadcasting; Atlantic Radio ST: Massachusetts IN: ENT SU: TNM


TM -- NE014 -- 6136 09/02/92 17:43 EDT
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Publication:PR Newswire
Date:Sep 2, 1992
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