VIACOM RADIO AND GROUP W RADIO TO EXCHANGE STATIONS IN HOUSTON AND WASHINGTON, D.C.
NEW YORK, July 8 /PRNewswire/ -- Viacom Radio and Group W Radio have agreed to an exchange of radio stations in Houston and Washington, D.C., it was announced today by Dan Mason, president of Group W Radio and Bill Figenshu, president, Viacom's Radio Division. Under the terms of the agreement, in addition to cash consideration from Group W, Viacom will acquire WCXR-FM (FM-105.9) and WCPT-AM (AM-730) in Washington, and Group W Radio will acquire KIKK-AM/FM (AM-650/FM-95.7) in Houston. KIKK is the second-ranked radio property in Houston, a country music station that trails only Group W's existing country music station in the market, KILT-AM & FM, which is a strong No. 1 in the nation's 10th largest market. Viacom adds classic rock-formatted WCXR-FM, and WCPT-AM, which currently programs CNN Headline News, to its radio properties in Washington, the country's fifth largest market. Viacom Radio also owns country-formatted stations WMZQ-AM/FM (AM-1390/FM-98.7). "WCXR is a tremendous radio station, with a strong product in the market and great people," said Mason. "This trade, however, gives us our first duopoly, and we're very excited about the possibilities it presents. With this acquisition, we're creating one of the most powerful station combinations in the nation. The challenge is to deliver on the outstanding potential in Houston by maintaining and building upon both stations' uniqueness in programming and sales." Commented Figenshu, "Though it's difficult to part with a terrific staff and station property such as KIKK, the acquisition of WCXR-FM and WCPT-AM will enhance our already powerful franchise in the D.C. market - - where WMZQ is top-ranked among our target demos -- and creates Viacom's third duopoly since the change in FCC regulations regarding station ownership." Viacom's Broadcast Group consists of five television and fourteen radio stations. Viacom's five affiliated television properties are KMOV-TV, St. Louis (CBS); WVIT, New Britain/Hartford/New Haven (NBC); WNYT-TV, Albany (NBC); KSLA-TV, Shreveport (CBS); and WHEC-TV, Rochester. Viacom currently owns radio stations in New York (WLTW-FM); Los Angeles (KYSR-FM and KXEZ-FM); Chicago (WLIT-FM); San Francisco (KSRY-FM); Santa Cruz/San Jose (KSRI-FM); Detroit (WLTI-FM); Washington, D.C. (WMZQ-AM/FM); Houston (KIKK-AM/FM); and Seattle/Tacoma (KBSG-AM/FM and KNDD-FM). Viacom's Broadcast Group is an operating unit of Viacom International Inc. Group W Radio is a division of Westinghouse Broadcasting Company (Group W), operating 16 radio stations in seven of the nation's top 10 markets. Westinghouse Broadcasting Company, Inc. (Group W) is a wholly owned subsidiary of Westinghouse Electric Corporation (NYSE: WX), with interests in television and radio, program production and distribution, syndication and cable. -0- 7/8/93 /CONTACT: Gil Schwartz of Group W, 212-307-3441, or Betsy Vorce of Viacom, 212-258-6594/ (WX)
CO: Viacom Radio; Group W Radio ST: New York, Texas IN: ENT SU:
MK-MJ -- PH002 -- 9425 07/08/93 10:35 EDT
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|Date:||Jul 8, 1993|
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