,.------(;overStorv------,

WFMs-FM Indianapolis ------24,000 239,300/15 stations WBCs-FM Boston ------10,800 WGRL-FM Indianapolis ------8,500 WKlB-FM Boston ------13,500 KVRV(FM) Phoenix ------9,700 WRRM-FM Cincinnati ------10,900 WHNO(AM) Monroe/Detroit ------N/A KFSO-FM San Diego ------12,000 WARM(AM) Scranton, Pa. ------5,400 WCSX-FM Detroit ------16,900 WPOC(FM) Baltimore ------31,400 WMGs-FM Wilkes-Barre, Pa. ------11,000 WRIF-FM Detroit ------25,900 KSGS(AM)[KJJO] Minneapolis ------N/A WSBA(AM) York, Pa. ------3,200 WCTC(AM) New Brunswick, N.J. - - - - -N/A KMJZ-FM Minneapolis ------6,900 WARM-FM York, Pa. ------6,900 WMGQ-FM New Brunswick, N.J. ------N/A WGAR-FM Cleveland ------25,400 KLlF(AM) Dallas ------11,400 WPEN(AM) Philadelphia ------37,000 WMJI(FM) Cleveland ------21,300 KTCK(AM) Dallas/Fort Worth ------8,300 WMGK-FM Philadelphia ------26,100 .WMMS(FM) Cleveland ------19,700 KPLX-FM Fort Worth ------24,300 WCOl(AM) Columbus, Ohio ------2,500 Other media holdings KRBE-FM Houston ------25,000 WCOl-FM Columbus, Ohio ------16,200 5 weekly newspapers, cable systems serv­ WLTY-FM Norfolk, Va. ------6,200 WNCI(FM) Columbus, Ohio ------17,000 ing more than 240,000 subscribers (cen­ WGH(AM) Virginia Beach, Va. ------1,000 KOMX(FM) Dallas ------20,900 tral/west Massachusetts and Philadelphia), WGH-FM Virginia Beach, Va. ---- -12,100 KHMX(FM) Houston ------25,200 Greater Jersey Press (printing plant) LMA KTBZ-FM [KRQT] Houston ------15,700 WBHT(FM) Wilkes-Barre/Scranton, Pa. KISW(FM) Seattle ------15,400 Sinclair Other media holdings Broadcasting Cable systems Greater Media Inc. Two Kennedy Blvd. 20 Group Inc./River East Brunswick, N.J. 08816 City Nationwide 19 (908) 247-6161 2000 W. 41st St. Peter A. Bordes, chairman Communications Baltimore 21211 18 (410) 467-4545 Inc. 206,200/13 stations One Nationwide Plaza, 27th fl. David Smith, president KRLA(AM) Los Angeles ------16,600 Columbus, Ohio 43216 (Nasdaq:SBGI) KlSx-FM Los Angeles ------37,300 (614) 249-7676 WMEX(AM) Boston ------N/A 201,800/33 stations Steve Berger, president WMJX-FM Boston ------22,100 KBLA(AM) Los Angeles ------N/A

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Broadcasting & Cable July 11996 33 ,- G,over Sfof'tlo------

WVRV(FM) East S1. Louis, III. ------5,400 WTSB(AM) Fayetteville, S.C. ------N/A Other media holdings KPNT(FM) S1. Louis, Mo. ------15,600 WKML(FM) Fayetteville, S.C. - - - . -- -8,000 5 TV stations KMEZ(FM) New Orleans ------6,700 WOSC(AM) Dillon, S.C. ------N/A WWL(AM) New Orleans ------11,900 WEGX(FM) Dillon, S.C. ------. -2,000 Tribune WLMG-FM New Orleans ------8,300 Broadcasting WSMB(AM) New Orleans ------2,300 Colfax WBEN(AM) Buffalo, N.Y. ------13,100 24 435 N. Michigan Ave., Suite WWKB(AM) Buffalo, N.Y. ------2,600 Communications 1800 WKSE-FM Buffalo, N.Y. ------14,900 22 Chicago 60611 WMJO-FM Buffalo, N.Y. ------9,700 Inc. (312) 222-4441 WGR(AM) Buffalo, N.Y. ------10,900 920 Dain Plaza John W. Madigan, chairman/president WWWS(AM) Buffalo, N.Y. ------2,200 605. 6th 5t. (NYSE:TRB) WGBI(AM) Scranton, Pa. ------500 Minneapolis 55402 WGGY-FM Scranton, Pa. ------10,100 (612) 373-0110 186,000/6 stations WILK(AM) Wilkes-Barre, Pa. ------3,000 L. Steven Goldstein, president WGN(AM) Chicago ------72,100 WKRZ-FM Wilkes-Barre, Pa. ------13,500 KEZW(AM) Aurora/Denver ------8,800 196,600/15 stations WWSH-FM Wilkes-Barre/Scranton, Pa. 2,700 KOSI-fM Denver ------17,200 WXPX(AM) Wilkes-Barre/Scranton, Pa. - N/A KOOL-FM Phoenix ------12,500 KVOD(FM) Denver ------8,700 WQEO(FM) Wilkes-Barre/Scranton, Pa. 1,500 KISO(AM) Phoenix ------2,600 WOCO-FM New York _. ------79,200 WFBC(AM) Greenville, S.C. ------1,900 KZON(FM) Phoenix ------7,100 WFBC-fM Greenville, S.C. ------3,500 KOY(AM) Phoenix ------16,200 Other media holdings 10 TV stations, CLTV News, Tribune Enter­ WORO(AM) Greenville, S.C. ------2,300 KYOHM Phoenix ------7,400 tainment Co., Tribune Radio Networks, 4 WSPA(AM) Greenville, S.C. ------1,100 WGMS(FM) Washington ------28,100 newspapers (including the Chicago Tri­ WSPA-FM Greenville, S.C. ------7,300 WBIG(FM) Washington ------32,800 WRVR-FM Memphis ------11,400 WTEM(AM) Washington ------6,100 bune), Tribune Media Services, 14 niche WJCE(AM) Memphis ------4,500 KARO(FM) Boise, Idaho ------3,600 publications, Chicago Online, Orlando Sen­ WOGY-FM Memphis ------6,200 KIOO(AM) Boise, Idaho ------3,200 tinel Online, 33% of Quest Broadcasting, 31% of TV Food Network, 11.125% ofThe WLAC(AM) Nashville ------5,400 KLTB(FM) Boise, Idaho ------2,300 WLAe-FM Nashville ------6,200 WBOB(FM) Minneapolis ------23,200 WB TV Network, 5% of America Online WJCE-FM Nashville ------4,900 KOOL{FM) Minneapolis ------19,400 WTAR(AM) Norfolk, Va. ------3,600 WOKY(AM) Milwaukee ------14,500 WKOC(FM) Norfolk, Va. ------8,600 Jefferson-Pilot WMIL(FM) Milwaukee ------17,600 Corp. Other media holdings 100 N. Greene S1. 23 TV stations, 6 TV lMAs Heritage Media 25 Greensboro, N.C. 27401 Corp. (910) 691-3000 Beasley 23 One Galleria Tower David Stonecipher, president Broadcast Group 13355 Noel Rd., Suite 1500 (NYSE:JP) 21 3033 Riviera Or., Suite 220 Dallas 75240 178,700114 stations Naples, Fla. 33940 (214) 702-7380 (941) 263-5000 James Hoak, chairman KIFM(FM) San Diego ------14,800 George G. Beasley, president Paul W. Fiddick, president, radio group KSON(AM) San Diego ------1,700 (ASE:HTG) KSON-FM San Diego ------24,400 196,100/26 stations KYGO(AM) Denver ------5000 191,800/20 stations KYGO-FM Denver ------26,600 KAAY(AM) Little Rock, Ark. ------300 KWMX-FM Denver ------10,700 WEZB-FM New Orleans ------8,400 WWCN(AM) North Fort Myers, Fla. --- -300 KKFN(AM) Denver ------N/A WRNO(FM) New Orleans ------11,300 WRXK(FM) Fort Myers, Fla. ------4,900 WAXY(AM) [WMRZ] WBYU(AM) New Orleans ------4,600 Miami ------4,500 WXKB(FM) Fort Myers, Fla. ------3,900 WLYF-FM Miami ------27,700 KCfX(FM) Kansas City, Mo. ------14,100 WPOW(fM} Miami ------27,100 WMXJ-FM Miami ------18,900 KCIY(FM) Kansas City, Mo. ------9,800 WGAC(AM) Augusta, Ga. ------4,900 WOXI(AM) WRTH(AM} S1. Louis ------7,000 Atlanta ------N/A WGOR(FM} Augusta, Ga. ------2,200 WSTR-FM Atlanta ------23,100 WIL-FM St. Louis ------29,600 WAJY(FM) Augusta, Ga. ------500 WBT(AM) KlHT(fM) St. Louis ------11,600 Charlotte, N.C. ------13,800 WOAM(AM) Miami ------8,300 WBT-FM Charlotte, N.C. ------7,500 WKIS-FM Miami ------20,500 WBBF(AM) Rochester, N.Y. ------3,400 WBEE-fM Rochester, N.Y. ------18,700 WNCT(AM) Greenville, N.C. ------N/A -Compiled by Jessica Sandin WNCT-FM Greenville, N.C. ------3,000 WKlX(FM) Rochester, N.Y. ------8,600 WEWO(AM) Laurinburg, N.C. ------N/A WVAE-FM [WOFX] Fairfield, Ohio - --- -9,300 WAZZ(FM} Laurinburg, N.C. ------2,400 KKSN-FM Portland, Ore. ------13,400 WlKS(FM) Greenville, N.C. ------9,700 KKSN(AM) Portland, Ore. ------9,700 The Top 25 Televisloil KKRH-FM [mol Salem, Ore. ------5,800 , WSfL-FM Greenville, N.C. (45%) - - - -5,600 WMGV(FM) [WKOT] Greenville, N.C. - - -1,500 WMYU(FM) Knoxville, Tenn. ------4,400 Groups will appear In WXNR(FM) [WTNO] Greenville, N.C. - - -1,400 WWST(FM) Knoxville, Tenn. ------5,400 WTEL(AM) Philadelphia ------2,400 WEMP(AM) Milwaukee ------1,700 Broadcasting & Cable s WXTU(FM) Philadelphia ------35,600 WMVX(FM) Milwaukee ------6,500 July BIssue. 1 WDAS(AM) Philadelphia ------7,000 WAMG(FM) [WEZW] Milwaukee ------8,500 • WDAS-FM Philadelphia ------44,600 34 July 1 1996 Broadcasting & cable EXHIBIT D & Radio supergroups: The buying begins Before ink is dry on te/com bill, Jacor and SFX announce major acquisitions data available. passage of the telecommunications act, Radio In a separate deal estimated at we see only expanding opportunities $105.25 million, SFX Broadcasting ahead." By Donna Petrozzello Inc. purchased Prism Radio Partners' Jacor President Randy Michaels eacting to less stringent radio portfolio of 16 radio stations in five said: "No other group purchase could ownership regulations signed into midsize markets. The acquisition deliver the immediate operational sym­ t:> Rlaw with the telecommunications boosts SFX's holdings to 35 FM and metry to JacOT that Citicasters pro­ W act, radio groups JacOT Communica­ 17 AM stations in 15 markets. vides. The deal significantly enhances tions and SFX Broadcasting announced Radio industry analyst Harry DeMott existing Jacor operations in Tampa, major acquisitions last week. of CS First Boston estimated the pur- Cincinnati and Atlanta." In a deal worth an estimated $774 mil­ chase price at a lO-times multiple on Both deals push each group well lion, Jacor announced plans to buy 19 Prism's estimated broadcast cash flow if beyond the former 20 AM and 20 FM radio stations and two network-affiliated the Prism stations are able to generate national ownership limits that have now TV stations from Citicasters Inc. The more than $10 million in cash flow with- been lifted by the telecommunications j1'l­ acquisitions give Jacor a total 32 PM and in one year after SFX closes the deal. act. Radio industry analysts see the It); 21 AM stations in 14 major markets and With the Prism stations, SFX builds deals as the start of a new era in station a strong presence in Cincinnati and its presence in the Southeast, gaining trading and industrywide consolidation. Columbus, Ohio, and Portland, Ore. In stations in Louisville, Ky., J ack- "There is no doubt that once the tele­ :00- the merger, Jacor will pay $29.50 per sonville, Fla., and Raleigh, N.C. Dun- communications bill was signed, share for that Citicasters stock. can estimated that the Prism station broadcasters were ready, willing and According to radio analyst Jim group collected $27.1 million in gross able to jump on deregulation," said Duncan, the Citicasters radio stations billings for 1994. media industry analyst Tim Wallace of garnered an estimated $78.7 million in SFX Executive Chairman Robert Lehman Bros. "This is just the begin­ net gross billings for 1994, the latest EX. Sillerman commented: "With the ning. I don't think we will end up with

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( Cable Broadcasting & Cable February 19 1996 29 five large groups running all the radio stations in the country. You will see Chancellor closes Shamrock deal company management acquiring stra­ Company is now third-largest in nation tegically." Wall Street reacted favorably to the By Elizabeth Rathbun market, with WALK-AM-FM Patchoguel Jacor and SFX announcements. Jacor's Long Island, N.Y. (1). stock rose from trading at an average n what it says is the largest radio­ "Chancellor is exceptionally $18 per share to $21.50 per share; SFX group expansion ever, Chancellor well-positioned to take advantage of stockrose from trading at about $28 per I Corp. last week closed on its $395 this new regulatory environment" that share to $30.75 per share on average. million merger with Shamrock Broad­ eases local ownership caps and lifts the DeMott notes Jacor's acquisition of casting Inc. The resulting company, national cap, says Thomas O. Hicks, Citicasters, along with its recently still based in Dallas but renamed Chan­ chainnan/CEO of Chancellor investor announced purchase of the Noble cellor Broadcasting Co., now is the Hicks Muse, Tate & Furst Inc. The Broadcast Group Inc., as giving the nation's third-largest radio company, closing took place last Wednesday. group a significant presence in markets with 33 radio stations (19 ofthem from Star Media Group and Smith Barney such as Denver, where the group will Shamrock), Chancellor says. were the brokers. control eight stations. The merger brings Chancellor into Shamrock was controlled by an "Thecombination ofJacor, Noble and six major markets where previously it investor group led by the Roy E. Disney Citicasters goes as far as anyone has to had no presence: Los Angeles (Arbi­ family and Trefoil Capital Partners LP. take advantage of the new regulations," tron-ranked 2); San Francisco (4); Roy Disney has 59% interest in Apogee DeMott said. "It is the making of the Atlanta (12); Pittsburgh (19); Phoenix Radio LP I, which has steadily been supergroups and gives Jacor an un­ (20), and Denver (23). Previously, selling its holdings during the past year believable presence in some markets." _ Chancellor reached into just one top 10 and has no other broadcast interests. -

Stem, Paramount strike movie deal After months touting his movie star aspirations on air, Howard Stem last week announced a collaboration with producer Ivan Reitman, director Betty Thomas and Paramount Pictures to develop his bestselling autobiogra­ Network rsdlo executives paTtlclpated In a panel discussion ata luncheon spon­ phy, "Private Parts," for the screen. sored by the New York City Chapter ofAmerican Women In Radio & Television at New Yo,*~ Intercontinental Hotel on Feb. 13. Pictured (I-r): JeffLswenda, pres­ Stem invited Reitman, Thomas and Ident of Westwood One RadIo Networks; David Kantor, executive vice president scriptwriter Len Blum on his radio ofABC Radio Networks; Sussn Solomon, president/CEO ofSW Networks; Bob show last week to discuss preproduc­ Klpperman, presidentofCBS Radio Networks; Nick Verbltsky, president of Unit­ tion of the fIlm, which Reitman said ed Stations Radio Netwo'*s, and Gary Fries, president/CEO ofthe Radio Advertls­ has a budget of more than $20 mil­ IngBureau. lion. Shooting is slated to begin in were lead underwriters. Chancellor and 1995, but did not account for May in New York, and Stem predict­ officials say the net proceeds of the Evergreen's acquisition ofPyramid ed a spring 1997 premiere. [email protected] offering, combined with proceeds Communications in January 1996. his plans to adapt "Private Parts" for from a public offering of senior sub­ Also on a pro fonna basis, Ever­ the movies had been delayed because ordinated notes and borrowing under green reported a 7.4% increase in net he had turned down numerous drafts Chancellor's credit facility, will be revenue, to $47.8 million, for the last of"Private Parts" screenplays before used to fund the group's planned quarter, and a 12% increase-to accepting Blum's. Reitman produced acquisition of Shamrock Broadcast­ $182 million-for 1995 compared "Stripes," "Twins," "Dave" and the ing for $395 million. with 1994. Earlier this month, Ever­ "Ghostbusters" series. Thomas was a Evergreen reports green Chainnan/C~O Scott Ginsburg star and producer on NBC's Hill and President/COO Jim deCastro Street Blues. cash-flow gain introduced a pop rhythm music for­ Year-end fmancial reports from Ever­ mat on WKTU(FM) New York (for­ Chancellor rolls out IPO green Media Corp. show a 13% merly country WYNY). Ginsburg says The Chancellor Corp., parent compa­ increase in broadcast cash flow, to WKTU is targeted as a "mass appeal" ny ofChancellor Broadcasting Co., $70.2 million, on a pro fonna basis in station. Before launching WKTU on made an initial public offering of 6.7 1995 over the previous year. The Feb. 10, Evergreen simulcast broad­ million shares of its Class A common company also reported an 11 % casts from its PM stations in Los stock at $20 per share. The stock is increase in broadcast cash flow, to Angeles, San Francisco, Chicago and trading in the Nasdaq market under $19.9 million, during fourth quarter Boston on WYNY to introduce Ever­ the symbol "CBCA." Smith Barney 1995 over the same quarter in 1994. green's on-air personalities to New Inc., CS First Boston, Goldman The figures were adjusted for stations York media buyers and listeners, Sachs & Co. and BT Securities Corp. the group acquired or sold in 1994 Ginsburg said. -DP

30 February 19 1996 Broadcasting & Cable ..------;gXf®o~~~ o Sinclair tops 1V limits; eyes 35% Becomes second group owner to break old cap of12 stations

By Elizabeth Rathbun Its 13 stations give Baltimore-based Kerrest says. Sinclair 9%-9 1/2% coverage of the The deal also was inspired by dereg­ ith its purchase of WYZZ(TV) nation's TV homes, Smith says, but he ulation, which allows broadcasters to Bloomington/Peoria, Ill., Sin­ hopes eventually to reach the new cov­ own more than two FMs and two AMs Wclair Broadcast Group Inc. erage limit of 35%. That will take "a in one market. With the trade (subject becomes the second TV group to long time...a couple of years," he says. to FCC approval), Chancellor owns exceed the former national ownership The first group to go over the station four FMs and one AM in Denver, limit of 12 stations. cap was Benedek Broadcasting Corp., including KXKL-AM-FM and KVOD-FM. The Fox affiliate is the second that which in January bought Brissette Under the new limits, broadcasters can Sinclair has purchased from Gerald J. Broadcasting Corp.'s eight stations. own eight radio stations (five ofa kind) Robinson. The first was WSMH(TV) With another deal for five stations in a market such as Denver that has 45 Aint, Mich., which Sinclair bought last ready to close, that brought Benedek's or more commercial radio stations. September. According to documents holdings to 22 TVs covering 3.4% of Jacor Communications was the first to filed with the FCC on Feb. 22, the price the U.S. reach that limit-in that very market. It to be paid for WYZZ is 10 times its owns four AMs and four FMs there. broadcast cash flow, not to be less than Gannett sells Macon combo Meanwhile, Dallas-based Chancel­ $23 million (see "Changing Hands," Gannett Co., long the subject ofrumors lor rids itself of its only Texas holding page 39). The deal is subject to FCC that it wants to rid itself of its radio as well as one of its top lo-market sta­ approval. holdings, has found a buyer for two of tions. Secret gains its only station in Because the FCC has not yet imple­ them: WMAZ(AM)-WAYS(FM) Macon, Texas with the trade. mented the new law that eliminates the Ga. The stations were put on the mar­ cap, Sinclair will ask the commission ket last October because FCC cross­ CBC adds to top 10 holdings for a waiver, according to president ownership rules bar ownership of radio The Children's Broadcasting Corp. is David Smith. That's merely "a techni­ and TV stations in the same market. growing up fast. On March 8 it entered cality," he says. Gannett also owns WMAZ-TV Macon. its third top 10 radio market, the second The stations' buyer-paying $1.5 such AM deal in about two weeks. million-is a new company, Ocmulgee CBC, which says it is the nation's Broadcasting Co. Its head, Eddie only full-time national broadcaster of Esserman, was a vice president with children's radio programing, agreed to Shamrock Broadcasting before it was pay $1.5 million to Wolpin Broadcast­ purchased by Chancellor Broadcasting. ing Co. for WCAR(AM) Livonia, Mich., The other principals are Jim McLen­ in Arbitron's sixth market, Detroit (see don, vice president/GM of the stations, "Changing Hands"). and local investor Leon PerIis. The About two weeks earlier, CBC had broker was Media Services Group. filed with the FCC to purchase a station "We're very excited to announce our in the nation's number-one market: first acquisitions in Macon and plan to WJDM(AM) Elizabeth, N.J./New York. continue our growth in the Southeast," That deal is for $10 million ("Changing Esserman said last Wednesday in a Hands," March 11). Both deals are sub­ release. ject to FCC approval. "They want to be in all the top mar­ Chancellor, Secret exchange FMs kets," says broker John Pierce ofForce Instead ofpurchasing KTBZ-FM (former­ Communications & Consultants. ly KRQT) Lake Jackson/Houston, Tex., Christopher T. Dahl, president of Min­ for $27 million from Secret Communi­ neapolis-based CBC, was not available cations LP, Chancellor Broadcasting for comment. Co. will trade the station for Secret's The company's other top 10 proper­ KALC(FM) and KIMN(FM), both Denver. ty is KAHZ(AM) Dallas/Fort Worth Although reported as a purchase (number seven). CBC also owns the (BROADCASTING & CABLE, Jan. 22), ABC Radio Network-backed Radio "the intention was always to swap, not AAHs children's programing network. to sell-for tax reasons," says Jacques The New York and Detroit buys will Kerrest, Chancellor's chief financial be funded with part ofthe proceeds ofa officer. "It's a like-kind exchange," public offering of 2.1 million shares of with KTBZ-FM valued at $27 million. If common stock at $10 per share. The Chancellor had been paid that much in offering ended on March 8. Proceeds cash, it would owe 40% in taxes, he also will be used to reduce debt and for says. "That's why you do swaps," working capital. _

38 March 18 1996 Broadcasting & Cable @]~ Sinclair's $2.38 powerhouse $1.2 billion purchase ofRiver City gives company 29 IV and 34 radio stations

By Steve McClellan "People supplying those services are purely of middle-market television sta­ not jumping for joy" over this deal, one tions." He points out that the new com­ hen Sinclair Broadcast Group TV programing executive says. "My pany's stations give it "the whole mid­ Inc. acquired River City guess is that when the news spread, dle of the United States almost in con­ WBroadcasting LP last week for those folks started their cocktail hour at tiguous markets." $1.2 billion, Wall Street applauded. about noon." Analysts peg the $1.2 billion price at But the deal sent shivers down the Some station executives say they are roughly 19.3 times the 1995 operating spines of program syndicators and happy that a large group will exercise cash flow of River City, although Sin­ broadcast service providers. its leverage aggressively, noting that clair executives estimate that the price To Sinclair, programing, employe stations are frequently the victims of will work out to between 12 and 13 overhead, sales reps and ratings reports outrageous price hikes for high­ times 1996 cash flow. With tax adjust­ are mere "cost centers" that must be demand syndicated fare. ments, that multiple edges down to reduced at all the merged company's The River City transaction will almost 10. 29 television and 34 radio outlets. "By boost Sinclair onto the top 10 list ofTV Analysts say the price is on the high virtue of the sheer critical mass we station owners, with control of 29 sta­ side, but they also say it makes sense have as a company, these costs will tions covering almost 15% ofthe coun­ because of the leveraging opportunities drop over time as our leverage is try, Sinclair says. However, Sinclair and the fact that Sinclair affiliates will implemented," Sinclair president and and River City have six LMAs between be diversified beyond Fox and inde­ 24.7% owner David Smith told securi­ them and overlapping stations in pendent stations and into the world of ties analysts following last Thursay's Bloomington, Ind., and Columbus, traditional affiliate television. "It's announcement of the deal. Ohio. Sinclair says its radio group will aggressive," one TV station broker And Smith intends for Sinclair's cover 9.7%. says of Sinclair's purchase. The deal is mass and leverage to grow. His "very Sinclair's six LMAs are in Birming­ one of the largest ever for broadcast­ practical objective" is to buy as many as ham, Ala.; Baltimore; Raleigh/Durham, only property, he says. 100 television stations "in the next few N.C.; Pittsburgh; Milwaukee, and San Combined, Sinclair and River City years." Antonio, Tex. earned $224 million in operating With Sinclair forging the way, sup­ This is "a very significant deal," income in 1995, which would place it pliers fear that other groups will grow says broker Steve Pruett of Communi­ fifth on the earnings list for broadcast and consolidate as well, using their cations Equity Associates. 'There has groups last year. That would be only own leverage to reduce costs. never been a large company made up about $20 million behind fourth-ranked tlIfI"lnaking ofa broadcast/giant A Sinclair/River Citymergerwould create the nation's seventh-largest radio group .and the largest TV group in terms of number of stations ()'oVned. The new Sinclair Communications Inc. will own or operate 29 TV stations covering 14.82% of U.S. households and 34 radio stations in nine markets, covering 9.7%, according to Sinclair and River City. Here ishow.the holdings break down: RNERCnYBROADCASnNGLP TVs: KOVR(rv) Stockton/Sacramento, Calif.; wnv(rv) Blooming­ SINCLAlR~I~ GRoUp INC. ton and WTTK(rv) Kokomo, both Indianapolis; KDSM-rv Des TV. only: WTTO(1\');ar~t.;~'·\¥ithwABM-lV,Birmingham Moines, Iowa; KDNl-TV St louis, Mo.;wsYx(rv) COlumbus, Ohio; and WDBB(lV) Tuscah)~~a;AI.a:t"Plsan Antonio,Tex. with WPTT-lV Pittsburgh;W'qE(lY)eolumbus, Ohio; KOCB-TV Radios: KBlA-AM los Angeles; WVRV(FM) Wilmore,KyJEast St. Oklahoma City; WGGNVand.~MAYlith WVTV~TV Milwaukee, louis and KPNT(FM) St: Genevieve/StLouiS;.I

8 April 15 1996 Broadcasting & Cable CBS, whose TV and radio stations earned the company $244 million. ···~.'··~Di'~~rt:CI"4"i)<··,SiiitIi)!:·1'i'·~·~~~~,~?t...' Barry Baker, president/chief execu­ ~ '·'VI ,.~ . tive officer and co-founder of River 'h " City, will join Sinclair as president and < l~~i.:';'''~S~'I~''f ,,',',' .. 'Slridair chief executive chief executive officer of Sinclair • Communications Inc., a newly formed David D. Smith has a repu­ tation for ruffling feathers in Sinclair subsidiary comprising the many of his business nego­ River City and Sinclair television and tiations. He has alienated a radio properties. I number of syndicators, but Baker and a number of other River d- at the same time is cheered City executives, including radio divi­ n- by some station managers sion head Kirby Confer, will relocate who say syndicators are to Baltimore, where Sinclair is based. the first to raise rates exor-. . .' The deal is structured as an asset 19 bitantly when they have a hot.showin the' market. . purchase, which allows Sinclair to take (l- But syndicators also say that Sinclair has grow~ to t~e point where it tax deductions (which it says are worth can almost single-handedly put a show on the air. Smith has also run about $200 million) over a IS-year I afoul of executives at Fox, which has pulled affiliations from Sinclair in period. During that time, the company :t­ Raleigh and Norfolk, largely over program clearance issues. can write off the value of both broad­ l~ Talking with analysts last week, Smith tried to soft-peddle his hard­ cast licenses and goodwill. nosed reputation, saying he does not anticipate disputes with CBS or Analysts say the company will take ABC, with which several River City stations are affiliated. on about $1 billion in new debt, most Smith never tires of telling people he is in the business to make lots of of it from bank borrowings underwrit­ money. But he is alSo attuned to the technical side of the broadcasting busi­ ten by Chase Manhattan Bank. ness. Smith, 45, helped his father, the late Julian S. Smith, build the fami­ Boston Ventures Management, the ly's first station, WBFF-TV Baltimore. It went on the air 25 years ago to the day largest outside investor in River City, that Sinclair signed its agreement (April 11 ) to bUy River City Broadcasting. is investing $115 million in the According to SEC documents, Smith helped build the Baltimore outtet and merged company, while River City was in charge of technical maintenance until 1978. He then founded itself will issue another $150 million is Comark Communications, a manufacturer of UHF transmitters. He rejoined in seller paper. Sinclair's out-of-pock­ t- the family company in 1984 to run WPTT-TV Pittsburgh. He has headed Sin­ et cash contribution to the deal totals a clair since 1990. Smith's three brothers, Frederick, Robert and Duncan, are mere $60 million, or 5% of the pur­ r also executives and directors of the Baltimore-based company. chase price. 19 His mother, Carolyn Smith, is the principal owner (either directly or The Smith family will retain about it through trustsest~lished for her grandchildren) of Glencairn, the com­ 29 million of 38 million outstanding pany that owns Sinclair's LMA stations in Pittsburgh, Raleigh, Milwau­ shares of stock, or about 75% of the l. kee and Birmingham. publicly traded company, said to be :d worth about $2.3 billion after the River City transaction. Approximately 175 Barry Baker key managers from River City and Sin­ "I don't know what to tell you; it's just not true. The clair will have equity stakes in the 1 c<>i'Tlpany is not for sale." That's what River City merged company. - Broadcasting president and founder Barry Baker ,·saidApril 5 regarding a rapidly spreading rumor that Sinclair was about to acquire his company. He gave the same basic line to at least two other publications (probably more) tracking the story. Of course- it wasn't the first time an execu­ tive has been less than candid with the press while I negotiating a huge deal. Mlf it were your billion-dollar deal hanging in the balance, what would you do?" was the question posed by more than one observer. III any event, the usually talkative Baker was seen last week as having complementary strengths to those of David Smith of Sinclair. I Last week Smith called Baker, 43,one of the most successful entrepre­ neurs in the business, whose key strengths lie in sales and marketing. Thus, while Baker will work atboosting station revenue, Smith will continue to hammer at costs,.both intemal and external. Before forming River City Broadcasting in 1989, Baker ran Koplar Communications' KPLR-TV St. Louis for about five years. Earlier he managed radio stations, including KMJQ (FM) Houston, and was marketing manager at Upstate Cablevision in Syracuse, where he went to college. -5M

able Broadcasting & Cable April 15 1996 9 BroadcastIng & caDle [email protected]'---"o,,--,,,,-, I One week: $1.9 billion tation trading last week reached an astonishing Deregulation continues to drive consolidation in radio. $1.87 billion. It wasn't too long ago-1992 to be Last week, Chancellor Corp. bought OmniAmerica Group Sexact-when $1 billion accounted for an entire year for $178 million, accumulating a total 43 radio stations, of broadcast-station transactions. and Cox Broadcasting formed a 38-station group by buy­ But with deregulation fueling consolidation and high ing NewCity Communications for $250 million. prices, deal-making this year is reaching new heights. Groups are also swapping stations to better cluster Station trading totals $5.55 billion, double last year's tally their holdings in certain markets. Last week, Cox traded for the period. Although tile total number of deals remains its two Chicago FMs for Infinity's recently purchased sta­ steady-399 this year, 360 last year-prices are higher. tions in Orlando (two FMs, one AM). And when they don't A pickup in TV station trading fueled last week's num­ swap, they sell. Witness last week's sale of the last of ber, with Young Broadcasting Inc. spending $385 million Crescent Communications' radio stations (see page 44) for Disney's KCAl-TV Los Angeles and the New York Times and Clear Channel's $6.9 million purchase of SFX Broad­ Co. buying WHO-TV Des Moines and KFOR-TV Oklahoma casting's radios in Louisville, Ky. (see page 45). SFX had City for about $200 million. Bert Ellis sold his 12 TVs for acquired the stations in February with Prism Radio Part­ $732 million, but is keeping his hand in the new company. ners, but Louisville is not one of SFX's markets. -ER, HAl Disney-friendly Young gets KeAl Buyer pays $385 millionfor Los Angeles V; duopoly a possibility By Elizabeth Rathbun

y keeping KCAL(TV) Los Angeles in the family, the Walt Disney BCo. may end up owning two sta­ tions in the nation's second-largest market should the FCC loosen its TV II duopoly rules, some observers say. Disney last week ., ;) agreed to sell the ch. ;l'f" 9 independent to Young Broadcasting Inc. for $385 mil­ 1 . -I lion-$368 million '1 in cash plus net working capital. Disney, after buying Capital Cities/ABC Vlncsnt J. Young Inc. and its top-rated has entered a big KABC-TV Los Ange­ marlcet In a big les, chose to divest waY,buylng Disney's KCAL for ker Ted Hepburn speculates that Dis­ ing 12 TVs-all network affiliates-in KCAL to secure Jus­ $385million. ney "wanted it in friendly hands.... small to midsize markets, and was not tice Department Someday they may get duopoly." mentioned in the flood of speculation approval of the merger. Disney's nonattributable link to about a possible buyer for KCAL. Also But Disney, again via ABC, main­ Young will not cause problems at the said to be bidding for the station were tains a more than 14% nonvoting inter­ FCC, says company chairman Vincent Emmis Broadcasting, Granite Broad­ est in Young. ABC had invested $25 J. Young: "We don't think the FCC is casting and Argyle Communications. million in the company in 1994 and has going to present any issue at all here." But Young won, and the deal boosts it warrants to buy more Young stock. Young seemed to come out of into the ranks of top TV group owners. "Disney is selling it back, to some nowhere to buy the station. The New With KCAL, Young doubles its coverage extent, to itself," one analyst says. Bro- York-based company owns or is buy- from 4.1% of the nation's TV house-

6 May 201996 Broadcasting & Cable ,..------.:roadcasti1no------..-, Clear Channel tops 100 Heftel tender offer would boost portfolio to 112 radio stations By Elizabeth A. Rathbun sion must OK the deal. Channel likes "It's a brilliant buy for Clear Chan­ to get into di­ V/radio group owner Clear Chan­ nel," says Steve Pruett of investment verse markets nel Communications Inc. is ce­ banker Communications Equity Part­ to protect it­ Tmenting its place as the nation's ners. Clear Channel President L. self from an largest radio-station owner, passing the Lowry Mays can use Heftel's exper­ economic century mark by owning or buying tise to buy stations in other large His­ downturn in ~ more than 100 radio stations. panic markets. Meanwhile, Heftel's any particular Lowry Mays puts B Clear Channel's tender offer for holdings gain "a terrific ability to market, the lockon the number· Heftel Broadcasting Corp. also puts the manage that Heftel had not been able company said one radio slot with the ~ San Antonio-based company in the to bring to bear on the company," in a recent fil- Heffel stations buy. nation's largest markets: New York Pruett says, adding that, for the first ing with the Securities and Exchange (ranked number one by Nielsen); Los time, it brings "a gold-standard com­ Commission. Angeles (2); Chicago (3), and Dallas/ pany into Spanish media." If Clear Channel follows its an­ Fort Worth (8). It also extends Clear There apparently was a bidding war nounced strategy of"clustering" stations p Channel's role in Spanish-language for Heftel's plums. Evergreen Media in its principal radio markets, more ac­ broadcasting. Las Vegas-based Heftel Corp. Chairman Scott K. Ginsburg quisitions presumably could be expected is the nation's largest Spanish-lan­ told Bloomberg Business News that in Clear Channel's new markets. ~ guage broadcaster. Clear Channel outbid his company for "I am reassured by knowing that ! Adding Heftel's 18 radio stations to Heftel. Clear Channel will carryon the tradi­ its portfolio gives Clear Channel 112 Most of Heftel's markets are new to tions and standards that have been radio stations. Clear Channel also owns Clear Channel. The only market the established in each of the cities that 10 TV stations. two companies share is Miami, where Heftel Broadcasting serves," says Hef­ Clear Channel's tender offer for Clear Channel owns WHYI-FM and tel Chairman Cecil Heftel. Heftel was made last Sunday (June 2). WBGG-FM Fort Lauderdale. Clear The deal is the second-largest "com- The offer was for about 40% of Hef­ tel's outstanding stock now owned by management. Clear Channel already owns 21.4% ofHeftel. The tender price is $23 per share. YOUNG BROADCASTING Prices of Heftel and Clear Channel has acqUired stock shot up with the news of the offer, valued at $336 million in cash and assumed debt. With about 39% of KELO-TV Heftel's shares remaining public, SiouxFalls investors apparently were hoping that KCLO-TV••....Rapid City ... Clear Channel's well-known manage­ KPLO-TV.....•..Reliance • ment and money-making skills will KDLO-TV Florence r make Heftel stock more valuable. All South Dakota ...I Heftel stock last Wednesday closed from at 27 3/8, up from 22 1/2 the day MIDCONTINENT MEDIA •r before. It closed Thursday at 26 1/16, hitting a 52-week high of 27 3/4. Clear for I.... Channel stock, meanwhile, closed at 82 last Wednesday and reached a 52­ $50,000,000 week high of 833/8 on Thursday. The undersigned acted as exclusive broker Heftel owns KTNQ(AM)-KLVE(FM) in this transaction and assisted in the negotiations. Los Angeles; WRTO(FM) GouldslMiami and WAQI(AM) and WQBA-AM-FM Miami; WOPA(AM) Chicago; KLSQ(AM) Laughlin, Nev., and KOWA(AM) Las Vegas; WPAT(AM) Paterson, N.J.; WGLl (AM) Long Island, N.Y.; WADO(AM) ft New York; KICI-AM-FM, KMRT(AM)­ KDZR-FM and KESS(AM), all DallaslFort Kalil & Co., Inc. Worth, and KCYT-FM Granbury, Tex. Besides FCC approval, Clear Chan­ 3444 North Country Club Tucson, Arizona 85716 (520) 795-1050 nel says, the Federal Trade Commis-

Broadcasting & Cable June 10 1996 27 ,.... Groadcastifno------,

bo" deal involving AM and FM stations Communications Corp. said it intended owned by general partners Bruce R. this year. Holding on to first place for to set up a time-brokerage agreement Spector and Joseph L. Mathias IV. with the station, which would be held price paid is Infinity Broadcasting Granite upgraded Corp.'s $410 million purchase of by The Christian Network. Last week, Granum Holdings LP (BROADCASTING Paxson said it is acquiring the station Moody's Investors Service has revised & CABLE, March 11). directly from Cornerstone. Granite Broadcasting's outlook to posi­ It has been a busy spring for Clear tive, upgraded its preferred stock to Channel. Last month alone the compa­ ABRY makes move "B3" from "CAA," and has assigned a ny bought WWKY(AM)-WTFX(FM) Louis­ TV station investor ABRY is back, this B3 rating to $110 million worth of new ville, Ky.; KWAM(AM)-KJMS(FM) Mem­ time with Perry Sook. ABRY and notes. phis, and KFON(AM) Austin-KEYI-FM Sook's partnership is called Nexstar The positive outlook reflects Gran­ San Marcos/Austin, Tex. This week it Broadcasting Group and has more than ite's success in building its "relatively is buying WMYK(FM) Moyock, N.C. $300 million with which to buy sta­ large group" of nine network-affiliated (see "Changing Hands"). tions, ABRY said last Monday. Nex­ TV stations; high audience share in The company earlier this month said star will concentrate on buying Big each market; solid improvements in it would sell 2.5 million shares of stock Three affiliates in Nielsen markets 40­ cash flow and margins since 1992, and to pay down its debt (BROADCASTING & 120, with its first acquisition to be "its strategic focus on its news fran­ CABLE, June 3). announced soon, ABRY said. chises," Moody's says. "Perry has a clear strategic plan and However, says Moody's, "the ratings Paxson heads north is actively lining up acquisitions," says note Granite's continued high lever­ What hasn't Paxson Communications ABRY Partner Peggy Koenig. Equity age...strong competition in its larger Corp. been up to this week? for Nexstar's purchases will come markets...and the prospect ofadditional Take your pick of purchases: KXLI­ from Sook and Boston-based ABRY acquisitions." While Granite's stations TV Minneapolis/St. Paul; WOCD(TV) Broadcast Partners II LP, a $250 mil­ are ranked fIrst in Buffalo, N.Y., and in Amsterdam/Albany/Troy, N.Y., and lion equity fund. Grand Rapids, Mich., there is seasoned WTKS(FM) Orlando, Fla. (pending FCC ABRY last was heard from in Febru­ competition in both markets from LIN approval). No prices were disclosed. ary, when it sold WSTR-TV Cincinnati and Argyle. Granite also faces "intense With the TV buys, Florida-based and KSM0-TV Kansas City, Mo., to Sin­ competition" to its San Jose, Calif., Paxson gets into Minneapolis and clair Broadcast Group Inc. for $20 mil­ ABC affiliate, KNTV-TV, including ABC Albany for the fIrst time. Nielsen ranks lion. Last fall, ABRY formed Sullivan 0&0 KGO-TV San Francisco. the markets as 14 and 52, respectively. Broadcasting Co. to run the eight TV Granite has a $60 million bank facil­ KXLI-TV (ch. 41) is rated fourth from stations ABRY had purchased from ity, which it may increase to make last in the market, while WOCD (ch. 55) Act II Broadcasting. ABRY owns more acquisitions, Moody's says. But is at the bottom of that city's ratings. WUTV(TV) Buffalo and WUHF(TV) Moody's is worried about the possibil­ Both are independent stations. Rochester, N.Y.; WXLV-TV Winston­ ity of a downturn in TV advertising, WTKS would be Paxson's fourth FM Salem, N.C.; WRGT-TV Dayton, Ohio; which would pinch company revenue. in Orlando, creating a "superduopoly" WTAT-TV Charleston, S.C.; WZTV(TV) In May Granite ventured into radio that includes top-rated WMGF(FM) Mt. Nashville; WRLH-TV Richmond, Va., for the first time, buying WIVR-FM (to Dora/Orlando. With two AMs already and WVAH-TV Charleston, W.Va. be renamed WEEK-FM) Eureka, Ill., to in the nation's 24th-largest market, Sook most recently was president! go with its WEEK-TV PeoriaIBlooming­ Paxson's holdings there would total GM of Superior Communications ton, Ill. Granite's chairman is W. Don six. Paxson also has an LMA with Group Inc.'s KOCB(TV) Oklahoma City. Cornwell. _ WIRB(TV) Orlando. Talk-formatted The station was sold to Sinclair in May WTKS is ranked eighth, but it is the top along with WDKY-TV DanvillelLexing­ talk station, Paxson says. ton, Ky. Paxson also lays claim to superduopo­ lies in Miami and Panama City, Fla., that Benchmark eyes public path reach the new federal limits for local Baltimore-based Benchmark Communi­ holdings (five AMs and three FMs, and cations, the owner or buyer of 15 FMs four FMs and one AM, respectively) and nine AMs, says it is juggling its (BROADCASTING & CABLE, May 27). holdings while deciding whether to go KYLE(lV) BlyanlWaco, TeL With KXLI-TV and woco, Paxson will public. The company this week said it is Price: $1.1 million own, operate or have 36 affiliates of its selling WVGO-FM Richmond and WLEE­ Buyer: Communications Corp. of infomercial network, the Infomall TV FM Williamsburg/Richmond for $14.5 America, Lafayette, La. (Thomas R. Network. That gives inTV coverage of million (see "Changing Hands"). It also Galloway Sr., chairman/owner); more than 46.2 million U.S. TV house­ recently said it is selling WTAR(AM)­ owns KEZA(FM) Fayetteville, Ark.; holds, including those in 12 of the 15 WLTY-FM Norfolk and \VKOC-FM Chesa­ WGMB-TV Baton Rouge, KPEL(AM)-KTDY largest markets and 21 of the top 30. peake/Norfolk, Va. ("Changing Hands," (FM) Lafayette and KMSS-TV Shreve­ The Christian Network of Clearwa­ May 27). The company says in a release, port, all La., and KPEJ-TV Odessa, ter, Fla., previously was reported to be however, "We are NOT [their emphasis] KWKT-TV Waco and KVEO-TV Browns­ the buyer of WOCD for $2.5 million selling radio stations in any of our ville, all Tex. Galloway's son, Shel­ ("Changing Hands," Feb. 5). The seller remaining markets," which include don, owns KAKW(TV) Killeen, Tex., was Cornerstone TeleVision Inc., Dover, Del.; Greenville/Spartanburg, and KSHV(TV) Shreveport. Wall, Pa. Later (March 18), Paxson S.c., and Lynchburg, Va. Benchmark is Seller: Silent Minority Group Inc.,

28 June 10 1996 Broadcasting & cable By Elizabeth A. Rathbun count-and by BROADCASTING & CABLE'S exclusive ranking of the ribune Co.'s $1.13 billion top 25 TV groups-Tribune actual­ cash purchase of Renais­ ly reaches 24.963% of U.S. house­ Tsance Communications will holds. Westinghouse/CBS wins in extend Tribune's reach into that category with 30.95% (see list, arguably more households than page 12). any other TV group owner. By any measure, the advantage Under the deal, which is sub­ of wide household reach should ject to FCC and federal antitrust payoff handsomely for Tribune's review, Tribune will acquire four programing unit, Tribune Enter­ Fox and two WB Network affili­ tainment (see page 9). The deal, ates. Tribune's holdings will the biggest in company history, is grow to 16 TVs that cover "a great opportunity for us," says Jim DoWdle, executive vice president/media 33.374% of the nation's TV operations, andDennis FitzSimons, executive vice Jim Dowdle, Tribune's executive households. Including WBDC(TV) president, Tribune Broadcasting, will oversee 16 vice president/media operations. Washington, which Tribune has TV and five radio stations. "It greatly enhances our distribu­ an option to acquire, that cover- tion system and...we have much age would be 35.4%. room to grow." Whether Tribune is the top group Likewise, there's plenty of room depends on who's counting. The FCC for programing on Tribune/Renais­ lowers a group's reach by discounting sance stations. All 17 are WB or Fox the reach ofUHFs by half. By the FCC's affiliates, except WGNX(TV) Atlanta,

nuBUNE 1996 STOCK PICTURE NYSE: TR8 73 7/8

4 July 8 1996 Broadcasting & Cable ,..-.------~op of the Wee!If------.., particular. Tribune is paying 13 times Renais­ Reflections ofthe Renaissance man sance's projected 1996 cash flow of Renaissance Communica­ $85 million, according to Bloomberg tions Chairman Michael Business News (BBN). Tribune pro­ Finkelstein can afford to sit jects that to 12 times estimated cash back and calculate the rate flow of $90 million in 1997, says of return on the original Senior VP Don Grenesko, Tribune's $35 million investment in chief fmancial officer. He calls that "a his company: 43% annual­ reasonable multiple based on recent ly. Finkelstein has that lux­ acquisitions," citing Young Broadcast­ ury now that he has sold ing Inc.'s purchase of KCAL-TV Los Renaissance's six TV sta­ Angeles for 16 times cash flow and tions to Tribune Co. for NBC loco's payment of 12 1/2 times $1.13 billion. cash flow for KNSD(TV) San Diego and "I don't think I'm looking WVTM-TV Birmingham, Ala. for a job," he said with a With the acquisitions, Tribune's Renaissance executives (1-1') CFO John C. laugh last Tuesday, the debt will double, from $900 million to Ferrera, CEO MlchBBl Finkelstein and COO day after the announce- $2 billion, Grenesko says, but adds that Edward Kerll~ a,.. reported on the way out after ment of the deal. "we're still comfortable with this the compsny s merger with Tribune. Renaissance actually amount ofdebt." had been looking to grow. Given the heated TV activity of the past year, Moody's Investors Service isn't "we weren't going to stand still," Finkelstein says. "We were quite pre­ quite as comfortable with it, however, pared to be a consolidator." However, that wasn't happening, he says. lowering the company's long-term "There aren't many strategic assets left." senior debt ratings to "A2" from "AI." Renaissance last year lost a major public battle for several strategic Moody's says it may cut Tribune's rat­ assets: WCMH-TV Columbus, Ohio; WJAR-TV Providence, R.I., and WNCN-TV ings further once the purchase is com­ Raleigh-Durham, N.C. NBC Inc. outbid Renaissance for the stations, offering pleted early next year, BBN says. $396 million. "That was very frustrating for us," Finkelstein says. Renais­ Although the deal requires Tribune sance also was reported as a merger candidate for Sinclair Broadcast Group to take on more debt, the diversity Inc., which in April bought River City Broadcasting LP for $1.2 billion. offered by Renaissance's stations is a As Renaissance was searching for other stations to buy, it kept meeting up plus, Moody's adds. with Tribune, Finkelstein says. He feels comfortable that his stations are The deal "puts us clearly on the top going to Tribune: "Tribune is basically a broadcast company, like we are." tier of television businesses," FitzSi­ \ Finkelstein founded Renaissance in 1989 with 60% investor Warburg, mons says. Tribune's goal has been to 1 Pincus Capital Co. The company went public in 1994. -EAR acquire stations in the top 30 markets. Renaissance's stations give it five more, for a tota115 stations in the top 30 mar­ which is CBS, and WGNO(TV) New And Renaissance provides a "collec­ kets (including Washington). Orleans, which is ABC. Tribune has a tion of the best assets that are out The deal gives Tribune just one 12.5% equity interest in the WB that there," Pruett says. more station in a top 10 market: Dallas, could grow to 25%. Renaissance's stations are Fox affIli­ the nation's eighth-largest market. A "Programing needs for WB and Fox ates KTXL(TV) Sacramento, Calif.; WTIC­ combined TribunelRenaissance would stations are very similar," says Dennis TV Hartford, Conn.; WXIN(TV) Indi­ have stations in eight ofthe top 10 mar­ FitzSimons, executive VP, Tribune anapolis; WPMT(TV) York/Harrisburg, kets and II of the top 20 (including Broadcasting. Syndication savings are Pa., and WB affiliates WDZL(TV) Miami Washington). expected beginning with the fall 1998 and KDAF(TV) Dallas. As part ofthe deal, A permanent waiver of the FCC's season. "Our main emphasis will be on Tribune gets 100% of the voting power crossownership rule will be sought to programing," he says. over WTIC-TV. Renaissance had held a allow Tribune to own Renaissance's Despite Tribune's holdings in WB, 98% nonvoting interest in the station. WDZL Miami and Tribune's nearby Tribune President John Madigan says No station swaps with other compa­ newspaper, the Fort Lauderdale Sun­ the company will maintain the Renais­ nies are anticipated, but "we are posi­ Sentinel. "We expect to retain the sance stations' Fox affiliations. 10 fact, tioned to do that if necessary," Madi­ Miami station," says Crane Kenney, Tribune will seek long-term contracts gan says. Observers question whether Tribune's chief legal officer. with Fox once the stations' affiliations Tribune will hang on to WMPl' York, in Tribune also will seek permanent expire in 1998, Madigan says. "There waivers for "slight overlaps" between are WB affiliates in each of those mar­ For a complete list of Renaissance's Hartford station and Tri­ kets," he notes. bune's WPIX(TV) New York and WLVI-TV "I don't think that's inconsistent" for the top 25 TV qroups with Cambridge/Boston, Mass., and for WB investor Tribune to own Fox sta­ each company's Renaissance's Harrisburg station and tions, says Steve Pruett, senior vice Tribune's Philadelphia station, WPlll..-TV. president, Communications Equity station holdings, This deal labels Tribune as an Associates. "I don't think that's as see pages 12-20. "aggressive, growth-oriented compa­ important...as it is to own the assets." ny," Madigan says. Publishing, which

8 July 8 1996 Broadcasting & CabI, ___------jTop of the Wee'''''------.had accounted for two-thirds of the Wednesday at 34. Tribune stock, mean­ Finkelstein says he will strike out on company's revenue, now will be while, rose to 73 5/8 last Monday from his own rather than go to work for Tri­ superseded by broadcast revenue. the previous Friday's closing of72 5/8. bune (see box at left). "Our largest segment," broadcasting, It closed last Wednesday at 737/8. Of Renaissance management, will account for 48% of Tribune's Renaissance is largely owned by FitzSimons says, "Their margins are cash flow, Grenesko says. Warburg, Pincus, Capital Co. LP. "We good. It's been a very well run group." With the announcement of the deal have a firm commitment" that War­ However, Tribune expects to shave $3 last Monday, Renaissance stock hit a burg Pincus will sell, Madigan says. million-$4 million a year in corporate I 52-week high of 34 1/8. It closed last Renaissance Chairman Michael overhead, Grenesko says. - rRenaissance buy should boost rTribune Entertainment Programing division gains six new customers with company's acquistion ofstations

By Cynthia Littleton block in August. Tribune also ribune Entertainment may gain may team again the most from its parent compa­ with King World TRIBUNE' Tny's move to become the largest Productions on a TV station group in the country. new ftrst-run pro­ Tribune Broadcasting's program­ ject. The two com­ ing unit already had an ambitious panies joined development slate for 1997 before it forces last January added six new in-house customers when King World last week. Tribune's purchase of took over station Renaissance Communications pro­ sales for The Ger­ vides a shot in the arm for the enter­ aldo Rivera Show, tainment division, capping a transi­ prompting specu­ tion that began when former president lation that Tribune Rick Jacobson departed for Fox's was getting out of Tribune's TV programing unit, Twentieth Television last year. the distribution headed byDick "We have been much more aggres­ business. Askin (above), Is sive in terms ofour development slate," But with or rapidly developing says Dick Askin, the former head of without partners, programing. In Its portfolio: 'Buzl,, a Samuel Goldwyn Television, who suc­ Askin's goal is to dating game show ceeded Jacobson late last year. "We bring three or to debut this fall. have programing for a variety of day­ four new shows parts in various stages ofdevelopment." to next year's NATPE convention, Corporate synergy helped at least one including a daytime strip companion to ofthose projects get offthe ground. Tri­ the game shows. The needs of Tri­ bune Entertainment is developing a bune's stations drive the development weekly action hour based on Tribune slate, but programing decisions are still Co.'s long-running comic strip Terry made by general managers on a mar­ and the Pirates. Tribune Media, more­ ket-by-market basis. over, handles all print advertising for the "Tribune has seen the highs and entertainment wing, whose existing slate lows of having its own syndication includes two series Askin brought from operation," Askin says. "My job is to Goldwyn: Flipper and Gladiators 2000. give them as many top-tier projects Tribune also is launching a dating game and development deals to choose Entertainment's spotty performance dur­ show, Bzzz!, this falL from as possible." ing the past few years. At the same time, the stations make That process has been helped by the "With the creative community based Tribune Entertainment an attractive part­ entertainment unit's recent move from [in Los Angeles], it makes sense to have ner for first-run co-ventures. Tribune is Tribune's home base in Chicago to the Tribune Entertainment's headquarters tearning with All American Television K11.A(1V) lot in Hollywood. Insiders say there," says Dennis FitzSimons, execu­ for the spring launch of two game show it marks a significant strategy shift for tive vice president of Tribune Broad­ revivals, Match Game and Tattletales. Tribune. High-level micromanagement casting. "We're not going to try to run Tribune is expected to begin selling the has been blamed by some for Tribune everything from Chicago." _

Broadcasting & Cable July 8 1996 9 riO' ~• ...... ,••• -:/I - ..... -_.- I" @](J)[@ I -1 I 0 I I I t ! Murdoch claims New World News Corp.' s $3 billion play creates largest station group, surpasses Westinghouse/CBS By Elizabeth A. Rathbun and public affairs hour, Fox News Sunday. Cynthia Littleton It also could lead to the creation of an in-house unit to handle spot sales for on't call Rupert Murdoch's Fox the 22 stations. Most ofFox O&Os cur­ the fourth network anymore. rently are represented by Petry Televi­ DWith last week's $3 billion sion or Telerep. acquisition of the remaining 80% of News Corp. has been looking to buy New World Communications Group New World since May 1994, when it Inc., News Corp. and Fox become the invested $500 million for a 20% stake in nation's leading TV station owner. the company. As part ofthat deal, which The ground-breaking stock deal also also involved syndicated programing brings News Corp. within a hairbreadth access, New World switched its sta­ of the new TV station ownership cap of tions' affiliations (mostly CBS) to Fox. 35%. Its 22 stations will reach 34.83% This past April, News Corp. Chair­ ofthe nation's TV households, using the man Murdoch and New World Chair­ ! I FCC's calculations. The deal man Ronald O. Perelman deadlocked includes producer and distrib­ over the price of the deal. Perelman utor New World Entertain­ was seeking $29 a share, while Mur­ ment. News Corp. Chairman Rupert doch was offering $23. The addition of New Murdoch has TV stations in nine Murdoch and Perelman met again World's 10 Fox affiliates to of top 10 markets, 15oftop 20. recently at investment banker Herbert News Corp. 's 12 gives News Corp. Allen's annual executive retreat in an 0&0 in every top-10 market TOP 10 TV GROUPS Sun Valley, Idaho. The deal came together with "lightning speed" last except San Francisco (see box, next Ctwerage ~L!S HH* page). ~~ Full% Monday, Fox and New World "[Murdoch] has such great sources say. In the end, News Corp. strength in having that block" of 1. FoxlNW 22 34.83 40.35 will exchange about $2.48 billion top-10 holdings, says broker 2. Westinghouse 14 30.95 31.86 in stock and assume New World's Richard Foreman. "There's been 3. Tribune 16 24.96 35.34 debt of approximately $540 mil­ nobody that's had that in our busi­ lion, says Bloomberg Business ness." 4. NBC 11 24.65 25.12 News. The $3 billion total works The merger is "a very important 5. Disney/ABC 10 24.07 24.32 out to a reported 15 times cash and strategic move," agrees analyst 6. Silver King 16 20.00 31.13 flow, or about $27 a share for New John S. Reidy of Smith Barney. World stock, which closed last Fri­ "The ability to reach 35 percent of 7. Paxson 17 18.71 39.18 day at $21.75. the audience with owned-and-oper­ 8. Chris Craft 8 17.70 19.49 News Corp. has not explained ated television stations...is a power- 9. Gannett 15 14.08 14.29 why it went so far over the trading ful weapon as Fox [moves] forward price for New World. "Perelman into late night, early morning, day­ 10. Univision 11 12.80 25.59 simply played a better poker game time, overtime and, of course, *FCC%--Consislent with FCC rules, UHF stations are credit­ in the final round," suggests Art news." ad with half the mat1Major League Baseball including the upcoming morning show Left out in the cold was King World markets, while five New World mar- Fox After Breakfast and its Sunday Productions Inc., which New World

6 July 22 1996 Broadcasting & Cable

~------_.~--~_... -_._--_. ,.------.op oftile Wee'....------...-, reportedly came close to buying for Carey says. Fox executives were $1.5 billion. Observers say the New known to have been unhappy with New World/King World talks may have World's management. been a' ploy by Perelman to coax Mur­ Carey predicts that the profitability doch back to the bargaining table. of the New World stations will double Fox insiders predict a major during the next three to four years, turnover of general managers at the from a reported $200 million to $400 New World stations, but Carey says it million. That in tum will strengthen the is far too soon to make decisions on network's performance. personnel matters. "We look at the stations and the net­ One thing is clear. "Without ques­ work as one business," Carey said. tion, the [New World] stations could be "They are inextricably tied in the prof­ performing better than they are today," itability sense." - News Corp. builds syndication muscle Twentieth gets expandedfirst-run launchpad By Cynthia Littleton book imprint, Brandon Tar- tikoff Books. ews Corp.'s buyout of New World Entertain- New World has made ment had an uneven record NFox's Twentieth Tele- under Tartikoff's two-year vision arm the 800-pound tenure. In network prime gorilla of the syndication time, the dramas Strange marketplace, but it also rais- Luck and Profit had brief es questions about the fate of runs on Fox last season, but New World shows set for NewWoridChairman Second Noah is getting a launch in less than two Brandon Tartlkoff second season on ABC. months. responded to the deal On the syndication side, With the Fox 0&0 group with his resignation. Fox went into business swelling, Twentieth has clear advan- overnight with NBC on a new entertain­ tage over competitors in launching ment magazine strip, Access Hollywood, first-run product, and the stations gain set to launch in September in prime new leverage in negotiating with out- access on the New World and NBC side suppliers. O&Os. The show is the first in a lO-year Fox is likely to fold New World's deal New World struck last year with production and distribution opera- NBC to co-produce first-run programs. tions-valued at about $450 million- Although Fox and NBC have battled into Twentieth. However, Chase Carey, publicly in the past, both sides say chairman of Fox Television, stressed Access Hollywood remains a definite ,1 last week that no decisions will be made go in September. The fate of two other until all New World assets are thor- new New World shows on tap for fall oughlyevaluated. was unclear last week, although indus- Brandon Tartikoff, chairman ofNew try observers noted that Fox won't risk World Entertainment, made a quick generating ill will with broadcasters by evaluation and decided to resign. withdrawing shows so late in the year. Tartikoff said the deal will create a Fox also inherits New World's deal "powerful force" in television. "How- with producer Stephen J. Cannell, ever, my personal and professional whose production company was goals are to get closer to the product, bought by New World last year. and therefore I concluded that those New World was also preparing to goals will be best fulfilled elsewhere." launch a late-night strip, Loveline, tak- Tartikoff, whose Moving Target ing advantage of the time period com­ Productions was bought by New World mitments it received on the Fox net­ for $9 million in 1994, said he intends work and its O&Os as part of New j to remain active in network develop- World's ground-breaking affiliation/ j ment and step up activities with his programing pact with Fox. _

Broadcasting & Cable July 221996 7 t, y . J 1 _------B,'roadcastina------, ~"" Zortman. Burr is listed as the secretary, 'T" with no votes in the new company. Capstar groWS with Hawkins is general manager of WAKA(TV) Selma/Montgomery, Ala.; Zortman is the station's news director. T The link between Raycom and Ellis Osborn radio group appears to be Burr. Burr brought } Retirement Systems of Alabama in to ~ The merger (subject to FCC ap­ help fmance the Ellis deal after work­ '0 . proval) would increase Media General's ing with the fund on the original sale of broadcast holdings from three to 13, and Park Communications Inc. (see preced­ By Elizabeth A. Rathbun its reach from 9.2% to 22.1% of U.S. ing item), Washington lawyer John TV households. Media General, which Fiorini has said. It was through the ~ ides, Muse, Tate & Furst Inc. has mostly owns newspapers, originally fund that Burr also got to know broadened its radio holdings to said it would trade away Park's WfVR­ Hawkins and Zortman, says broker H50 stations by acquiring Osborn TV Richmond, Va., where it owns the Brian Cobb ofMedia Venture Partners. ~ Communications Corp. under the ban­ daily Times Dispatch. Now Media Gen­ Under the $738 million merger (orig­ ner ofCapstar Broadcasting Partners. eral plans to seek an FCC waiver so it inally reported by Ellis as $732 million), The deal, valued at $111.4 million, can own both facilities. a subsidiary of Raycom--known for a involves 17 radio stations in small and Media General will trade away WUTR­ few weeks as Ellis Acquisitions Inc.­ ~ midsize markets (see "Changing TV Utica, N.Y., for a station in the will be merged into Ellis Communica­ Hands," page 41). It values Osborn Southeast, where the rest ofits holdings tions. Ellis Communications will con­ common stock at about $15.38 per are, the company says. tinue as the surviving company, which share. Last Monday, the day before the Included in the deal are Park's 28 will be a subsidiary ofRaycom Media. ~ deal was announced, the company's daily and 82 weekly newspapers. Where is Ellis Communications Pres­ stock closed at $12. Last Tuesday it "Media General offers a great growth ident Bert Ellis's place in this? He was closed at $14, after hitting a 52-week opportunity for our people in both the promised that "key management" of high of$14.75. newspaper and the broadcast divi­ Ellis Communications ultimately would ~ This is the second such transaction sions," Park COO Wright M. Thomas own up to 20% ofEllis Acquisitions. for Capstar, which Dallas-based Hicks said in a statement. Actually, Cobb says, that 20% even­ Muse formed in May. Capstar is to ac­ And Park investors reap a handsome tually will go to Raycom's top man­ quire up to $1 billion worth ofstations in return on their investment. Donald agers, who have not been named. Ellis I midsize markets. First, in June, Capstar Tomlin and Gary Knapp bought Park presumably will be one of them, Cobb agreed to pay $200 million for Com­ last May for $711.4 million, then pro­ says. modore Media and its 33 radio stations. ceeded to sell the company's 17 radio Both deals are pending FCC approval. stations for $233.2 million. Jordan looks beyond Westinghouse I Osborn will be a subsidiary of Cap­ Retirement Systems of Alabama had Michael H. Jordan has broadcast hold­ star and will continue to be operated by loaned Tomlin and Knapp $573.4 mil­ ings beyond his 32,026 shares of West­ its president, Frank D. Osborn. Osborn lion toward the purchase. The pension inghouse Electric Corp. Jordan, the founded the Greenwich, Conn.-based fund now is investing in a company that chairman ofWestinghouse, also has an I company in 1984 and "will maintain a in May bought Ellis Communications interest in Pilot Communications LLC, substantial equity stake in the compa­ Inc.'s 12 TV stations and Federal Enter­ which owns seven radio stations in ny," Hicks Muse says. prises Inc.'s eight network affiliates. New York and Maine, according to Osborn also owns a country music Park Communications was founded documents filed last week with the entertainment complex in Wheeling, in 1965 by Duncan Hines food mag­ FCC in support of Westinghouse's , W.Va., and Muzak franchises. nate Roy Park. When they bought the merger with Infinity Broadcasting - Capstar is led by former SFX Broad­ company, Tomlin and Knapp said they Corp. (see story, page 43). I casting Inc. president R. Steven Hicks. would retain all of Park's holdings. Jordan and his wife, Kathryn, through I I Hicks's brother, Thomas O. Hicks, is their Charitable Lead Annuity Trust No. chairman of Hicks Muse. Earlier this Speaking of Ellis... 1, hold 11.5% interest in limited part­ month, the private investment firm filed Documents recently released by the nership Pi-Com Partners LP. Pi-Com in to take over 90% of Chancellor Broad­ FCC detail some of the ownership turn owns 8.75% ofPilot. casting Co. changes at Ellis Communications Inc. Pilot is led by President Jim Leven. • Hicks Muse's holdings also include Ellis's controlling shareholder, Kelso None ofits stations overlap with West­ Ghirardelli Chocolate Co. and a maker Partners IV LP, in May said it would inghouse or Infmity holdings, the doc­ 'f?~ of polyurethane foam. Thomas Hicks transfer control of Ellis to a new com­ uments say. owns the Dallas Stars hockey team. pany. That firm-Raycom Media I Inc.- was said to be controlled by Clear Channel enjoys record second Park TVs sold to Media General Boston attorney Stephen I. Burr Closing on its $140 million merger ~ Media General's household reach would (BROADCASTING & CABLE, May 20). with US Radio Group Inc. boosted TV I more than double with last week's merg­ But FCC documents show that Ray­ and radio group owner Clear Channel er with Park Communications Inc. com's shares will be split into thirds Communications Inc. to its best second ~ Media General will pay $710 million and be held by Bryan Kent Hawkins, quarter ever, the company says. cash for Park's 10 TV stations. Robert W. Greenman and William C. Broadcast revenue grew 27.7%, I Broadcasting & cable July 291996 39 37.1 kw aural, ant. 1,260 ft.; WJHL-TV: ch. 11, 245 kw visual, 30 kw aural, ant. 2,320 ft.; WTVR-TV: ch. 6, 100 kw visual 15.1 kw aural, ant. 1,049 ft.; WSLS·~: ch. 10, 316 kw visual, 47 kw aural, ant. 2,001 ft. Affiliations: WBMG: CBS; WHOA-TV, WTVQ-TV: ABC; KALB-TV: NBC; WUTR: ABC; WNCT-TV, WDEF-TV, WJHL-TV, WTVR-TV: CBS; WSLS-TV: NBC Broker: Media Venture Partners (seller) COMBOS WAAXIAM)·WQENIFM) Gadsden, Ala.; WOUIFM) Fort Myers and WKII(AM)*· WEEJIFM)* Port CharlottelFort Myers, Fla.; WWNCIAM)·WKSFIFM) Asheville, N.C.; WlNG·FM Dayton/Springfield, Ohio; WTJSIAMI·WTNVIFMI Jackson and WVNUIFM)* Milan/Jackson, Tenn.; WKWK·AM-FM, WWVAIAMJ·WOVK IFMJ and WEGWIFMJ*, all Wheeling, W.Va., and WHLXIFMJ* Bethlehem! Wheeling, W.Va., and 50% of WORR (FMJ SanibellFort Myers, fla. (*=Osbom Is buying) Price: $111.4 million ($95.4 million cash, $16 million debt assumption; merger) Buyer: Capstar Broadcasting Part­ ners, Dallas (R. Steven Hicks, chair­ WBMG(lVJ Binningham and WHOA·TV man' Hicks, Muse, Tate & Furst Inc., Montgomery, Ala.; WlVQ-TV Lexington, part~er [Thomas O. Hicks, chair­ Ky.; KALB-TV Alexandria, La.; WUTR man]); is acquiring Commodore " (lV) Utica, N.V.; WNCT·TV Greenville, Media Inc. (see "Changing Hands, N.C.; WD£F·TV Chattanooga and WJHL· July 1). R. Steven and Thomas O. TV Johnson City, Tenn.; WTVR-TV Rich· Hicks are brothers. mond, WSLS-TV Roanoke, Va.; 28 daily Seller: Osbom Communications and 82 weekly newspapers Corp., Greenwich, Conn. (Frank D. Osbom, president); is selling WJSU-TV Price: $71 million cash (merger) ° Anniston, Ala., and KNAX-FM and KRBT­ Buyer: Media General Inc., Rich­ FM Fresno, Calif. (see item, below) mond, Va. (J. Stewart Bryan III, pres­ Facilities: WAAX: 570 khz, 5 kw day, ident); owns WJKS(TV) Jacksonville 500 Wnight; WQEN: 103.7 mhz, 100 and WFLA-TV Tampa, Fla., and WCBD­ kw, ant. 1,080 ft.; WOl2: 95.3 mhz, 97 TV Charleston, S.C.; cable TV sys­ kw, ant. 453 ft.; WKII: 1070 khz, 3.1 kw tems in Virginia, and the Tampa Tri­ day, 260w nigh; WEEJ: 100.1 mhz, bune, Winston-Salem (N.C.) Journal 100 kw, ant. 450 ft.; WWNC: 570 khz, 5 and Richmond (Va.) Times Dis­ kw; WKSF: 99.9 mhz, 53 kw, ant. 2,672 patch. Note: company will trade .away ft.; WING-FM: 102.9 mhz, 50 kw, ant. WTVR-TV Richmond and WUTR Utfca. 160 ft.; WTJS: 1390 khz, 5 kw day, 1 Seller: Park Communications Inc., kw night; WTNV:104.1 mhz, 100 kw, Lexington, Ky. (Donald Tomlin, Gary ant. 655 ft.; WYNU: 92.3 mhz, 100 kw, Knapp, principals; Wright M. Thomas, ant. 991 ft.; WKWK(AM): 1400 khz, 1 COO); no other broadcast interests kw; WKWK-FM: 97.3 mhz, 50 kw, ant. Facilities: WBMG: ch. 42, 2,163 kw 470 ft.; WWVA: 1170 khz, 50 kw; WOVK: visual 216 kw aural, ant. 1,382 ft.; 98.7 mhz, 50 kw, ant. 906 ft.; WEGW: WHOA:TV: ch. 32, 4,600 kw visual, 460 107.5 mhz, 12.5 kw, ant. 870 ft.; kw aural, ant. 2,049 ft.; WTVQ-TV: ch. WHLX: 105.5 mhz, 2.7 kw, ant. 313 ft.; 36,1,580 kw visual, 158 kwaural, WDRR: 98.5 mhz, 2.6 kw, ant. 490 ft. ant. 994 ft.; KALB-TV: ch. 5, 100 kw Fonnat: WAAX: news/talk; WQEN: hot visual, 20 kw aural, ant. 1,590 ft.; adult contemporary; WOl2: oldies; WUTR: ch. 20, 1,150 kw visual, 173 kw WKII: adult standards; WEEJ: educa­ aural, ant. 800 ft.; WNCT-TV: ch. 9, 316 tional; WWNC: full service; WKSF: hot kw visual, 31.6 kw aural, ant. 1,879 country; W1NG-FM: classic hits of the ft.; WDEF-TV: ch. 12,316 kw visual, '70s; WTJS: big band; WTNV: country;

40 July 291996 Broadcasting & cable ...------IJ8roadcastino------, TIi: WYNU: adult contemporary; WKWK: Wilmington (Hugh G. McComas, Seller: G. Harold Wright, Weather­ sports info; WKWK-FM: adult contem­ president/owner with spouse Nilda ford, Okla. (80% owner); owns KOMX porary; WWVA, WOVK: country; WEGW: M. McComas). Hugh McComas has (FM) (formerly KCU) Clinton, Okla., , rock/AOR; WHLX: easy listening; interest in woao(AM) Leesburg, Fla. and KWEY-AM-FM Weatherford I

- . l..able Broadcasting & Cable July 29 1996 ______--IJ8t'011dca'StirJOo------......

Format: Both oldies Evansville, Ind.; 25% of company 1 applying to build FM in Murdock, RADIO: FM Big deals , Fla., and 16.7% of company apply­ The following station-sale appli­ ing to build FMs in Fairview, Pa., and ··1 KNAX-FM and KRBT-FM Fresno, Calif. PrIce: $11 million cations, previously reported in Brookline, Mo.; has interest in WTPX Buyer: American Radio Systems, BROADCASTING & CABLE, were (FM) Jupiter, Fla. f Boston (Steven B. Dodge, chair­ made public last week: Facilities: not available man); owns KKDJ(FM) Fresno and • $4.9 billion ($3.9 billion swap WZZM(FM) Comith, N.Y. 41 KMJI(AM)-KSKS(FM) Woodland/Sacra­ plus $1 billion in debt assumption) Price: $450,000 mento/Fresno; WZMX(FM), WRCH-FM, merger of Infinity Broadcasting Buyer: Starview Media Inc., York, Pa. WNEZ(AM), and WTIC-AM-FM, all Hart­ Corp. into Westinghouse Electric (Douglas W. George, president/87% ford, Conn.; WIRK-FM, WKGR-FM and Corp.lCBS Inc. Infinity owns or is owner); owns WSTl(AM) South Glens WBzr(AM) West Palm Beach, Fla.; buying 43 radio stations; Westing­ Falls, WENU(FM) and WMJR(FM) Hud­ I WRKO(AM)-WSMX(FM), WEEI(AM) and house owns 39 radio and 15 TV son Falls and WBZA(AM) Glens Falls, WEGO-FM Boston; WBMD(AM)-WOSR-FM stations. Brokers: Merrill Lynch & all N.Y., and WWBV(FM) Beaver By 1 Baltimore; WYRK-FM, WJYE-FM and Co. (Infinity); Chase Securities Springs and WJUN-AM-FM Beaver I WECK(AM) Buffalo, and WCMF-FM and Inc, Salomon Bros. Inc. (Westing­ Springs, Pa. George also owns WRMM-AM-FM Rochester, N.Y., and house) WOYK(AM) York. WMMX-FM, WTUE-FM and WONE(AM) • Like-kind exchange of Infinity seller: Target Media Radio Inc., Cor­ Dayton, Ohio; also is buying KCTC Broadcasting Corp.'s WHTO(FM), nith (Ed Bartholomew, president); no tio (AM)-KYMX(FM) Rancho Cordova/Sa­ WHOO(AM) and WMMO(FM) Orlando, other broadcast interests cramento, KSSJ-FM Shingle Springs/ sta Fla., plus $20 million, for Cox Facilities: 93.5 mhz, 3 kw rna Sacramento, KSJO(FM) San Jose and fonnat: Country KUFX(FM) Gilroy/San Jose, all Calif.; Broadcasting Inc.'s WCKO(FM) Elm­ fro WORS-FM Detroit; KFAB(AM)-KGOR(FM) wood Park/Chicago and WYSY-FM KXGJ(FM) Bay City, Tex. ty, Omaha; KMZQ-FM and KJMZ(FM) Hen­ Aurora/Chicago. Value: To be de­ Price: $420,000 derson, KXNO(AM) and KVEG(AM) North termined by 90 days after closing. Buyer: 5 Star Radio LLC, Houston tio Las Vegas, KFBI(FM) Pahrump/Las (Launa B. White-Crocker, 90% COl Vegas and KLUC-FM Las Vegas, all ristown, N.Y. and 17.9% of wCPv(FM) owner); no other broadcast interests tio Nev.; WBGR(AM) Baltimore; WSJZ-FM Essex, N.Y.; 12.3% of WTSV(AM)­ seller: Ronald W. Latimer, Bay City; to Buffalo, and WHAM(AM)-WVOR-FM, WHOO(FM) Claremont, N.H., and WNHV has applied to build FM in Pecos, Tex. WPXY-FM and WHTK(AM) Rochester, (AM)-WKXE-FM White River Junction facilities: 101.7 mhz, 50 kw, ant. N.Y.; KDBX(FM) Banks/Portland, KBBT and WSSH-FM Marlboro, Vt., and 11 % 492 ft. (AM)-KUFO(FM) and KUPl-FM Portland of WKRT(AM)-WIII-FM Cortland, N.Y. fonnat: Not on air and KKJZ(FM) Lake Oswego/Portland, Seller: Lakeside Broadcasting Corp., Broker: John W. Saunders Shorewood, Wis. (John Davis, presi­ all Ore., and WFlN-FM Philadelphia; WBOZ(FMJ Woodbury, Tenn. has option to buy WBlK-FM Buffalo, dent/owner); no other broadcast Price: $400,000 and KKMJ-FMlKJCE(AM) Austin and interests Buyer: Reach Satellite Network Inc., facilities: 96.7 mhz, 3.4 kw, ant. KPTY(FM) Luling/Austin, Tex.; is Nashville (James R. Cumbee, presi­ ..1 swapping away KSTE(AM) Rancho 430 ft. dentl70% owner); no other broad­ Cordova/Sacramento for WEAT-AM-FM Fonnat: Modern rock West Palm Beach and WOll-FM Broker: Media Services Group Inc. cast interests seller: John C. McLemore, Nashville Rivera BeachlWest Palm Beach, (buyer) (trustee for DaSan Communications Fla. Corp.; owns WBRY[AM] Woodbury) seller: Osborn Communications CP for WYOS(FM) Chenango Bridge, Facilities: 104.9 mhz, 3 kw, ant. 328 ft. Corp., Greenwich, Conn.; is being N.Y. bought by Capstar Broadcasting Price: $550,000 fonnat: C&W Buyer: Wicks Broadcast Group LP, Partners (see combo item, above). KVLE·FM Gunnison, Colo. New York (WBG Management Inc., Note: Osborn acquired KNAX-FM and Price: $250,000 KRBT-FM in January for $7 million. general partner; Edgar R. Berner, Buyer: Global American Inc., Dillon, president/41.7% owner); owns WlMX­ FacUlties: KNAX-FM: 97.9 mhz, 2.07 Colo. (Ronald E. Crider, president/ AM-FM Rossville, Ga.; WNBF(AM)-WHWK kw, ant. 1,987 ft.; KRBT-FM: 101.1 40% owner). Crider ~nd spouse mhz, 50 kw, ant. 310ft. (FM) Binghamton, N.Y.; KMTR(TV) Molly Snell Crider are 50% owners Eugene, KMTZ(TV) Coos Bay and Fonnats: KNAX-FM: contemporary of Rocky Mountain Information Net­ KMTX(TV) Roseburg, Ore.; WTMA(AM)­ country; KRBT-FM: country work Inc., which is buying KSKE(AM) WSUY(FM) Charleston and WTMZ(AM)­ Broker: Media Venture Partners Vail; 80% of KRKM(FM) Kremmling WSSX-FM Dorchester Terrace/Char­ WXPS(FM) (fonnerly WWGT) and KRKY(AM) Granby, and 50% of leston, S.C.; WZST(FM) Signal Moun­ KDMN(AM) Buena Vista and KHTH(AM) VergenneslBurtington, Vt. tain, Tenn., and KCIT(TV) Amarillo and Dillon, all Colo. Price: $1.005 million KJTl(TV) Wichita Falls, Tex.lLawton, seller: E. Terrill Weiss, Madison, Buyer: Watertown Radio Associates Okla.; is buying WMGL(FM) Ravenel Miss.; has applied to build TV in LP, Claremont, N.H. (Northstar and WWWZ(FM) Summerville, Char­ Destin, Fla., and FM in Grand Junc­ Broadcasting Corp., 20.7% general leston, S.C. partner; Jeffrey D. Shapiro, William seller: BS Investment Co., Washing­ tion, Colo.; owns 50% of company applying to build TV in Pullman, D. Goddard, co-owners). Shapiro ton (Arthur V. Belendiuk, 50% Wash., and 30% of company apply- and Goddard each own 33.3% of owner). Belendiuk owns 50% of Northstar, which owns WNCO-FM Mar- company applying to build FM in Continues on page 74

42 JUly 291996 Broadcasting & Cable Broa _------§t'Oadcastinta------t II, I ~ Chancellor makes another big buy Acquisitive group pays $365 million for 12 stations standards are in line with [Chancel­ lor's]." in Washington, Phoenix, Minneapolis, Milwaukee Smith Barney analyst John Reidy cites the "significant position in Min­ By Jessica Sandin because "it's a great fit" with the sta­ neapolis" acquired by Chancellor as tions they already own, Hicks says. one positive aspect of a "fme deal." In he possibility of becoming a The fact that it could own five FMs in a Chancellor news release, Dinetz major radio player in Minneapo­ Minneapolis, including a country com­ describes Minneapolis-St. Paul as an Tlis and Phoenix spurred Chancel­ petitor, and four FMs in Phoenix "was "under-radioed market" with high rev­ lor Broadcasting Co. (Nasdaq:CBSA) the real driver." He also describes the enue and population per station. to pay Colfax Communications $365 DMA 7 Washington market as "very Niraj Gupta of Schroder Wertheim million cash for 12 radio stations. The attractive." & Co. points to Phoenix as "one ofthe deal also includes strong stations in Furthermore, Hicks firmly believes fastest-growing radio markets" in the Washington and Milwaukee, markets that with consolidation in a market, country. According to BIA's estimated previously untried by Chancellor. money will be saved: "We're writing 1995 station revenue, Chancellor will It's a deal long sought by Chancellor all-new rules. We're allieaming what have 34.7% of the Minneapolis mar­ President Steve Dinetz-and the third the new economies will be." Other ket's revenue and 23.3% of Phoenix's. major acquisition by the company in the sources, however, think it simply can­ Gupta describes the deal as "relatively past 13 months. Chancellor will go from not be known whether such savings attractive, compared with recent deals in one to six stations in Phoenix (2 AMs, 4 will materialize. the industry." Industry analysts judge the FMs), add two FMs to its five stations in Dinetz says these are "the best of all $365 million to be 12 times 1996 esti­ Minneapolis-St. Paul (2 AMs, 3 FMs), the stations we have been involved mated cash flow-a "good price," making it the market's top radio group, with in terms of acquisitions." The two according to Gupta. He thinks Chancel­ and enter Milwaukee (1 AM, I FM) and companies were close competitors in lor will continue to buy selectively. It Washington (l AM, 2 FMs). Minneapolis, and a trade or buy was has "one of the more disciplined man­ The price is II times the first year's considered long before Colfax bought agement teams in the business," he says, estimated cash flow, the highest pro the stations in Phoenix. When these and "[I] would be surprised ifthey didn't forma cash-flow multiple ever paid by acquisitions occurred, the "opportunity continue to make astute acquisitions." Chancellor's owner Hicks, Muse, Tate became even more compelling," says The deal, which was announced last & Furst Inc., according to Tom Hicks, Dinetz. He also says a buy was attrac­ Monday, will swell Dallas-based chairman of the investment firm. They tive because Colfax President Steve Chancellor's radio holdings to 53 sta­ were prepared to put up the cash Goldstein's "operating character [and) tions in 15 of the top 40 markets, including the eight stations being acquired from OmniAmerica in a deal announced in May. OmniAmerica's $21.3 million acquisition of WJHM(FM) Orlando, Fla., from Beasley Communi­ cations was completed last week. Last year's biggest radio-only deal, Chan­ cellor's $395 million merger with Shamrock, closed in February. Furthermore, Chancellor will have clusters in 5 ofthe markets, and control more than 10% of market revenue in nine (see chart). Chancellor has been mentioned as a nneapo S- possible candidate for a merger with St. Paul KTCJ-AM, KFAN(AM), KEEY-FM Disney/ABC. "Clearly, the company is ilp~ti~urgl1:p~~~{~'1{1:~~,-'-~~:;~~~.i-·, "I;l;~~~ri{,;,'" 8;5%~~iJr: more attractive now than [before] the Phoenix KOOL-FM*, KISO(AM)*-KZON(FM)*, KOY(AM)*- 23.3%"" deal", says Gupta, but in this industry KYOT-FM*, KMLE-FM "everything is realistically possible. The Dell.v~r "':tni,.'·;:}~L,_EDG(~MJ~~(j:~},~QIFM) .. ';, ' 15:6~:;r.>' same rumors are going around about Cincinnati WUBE-AM-FM, WYGY-FM, WKYN(AM)(F=lorence, Ky.) 14.7% ' Evergreen, the Viacom radio group." :Sail·~'erri.Rlh:\O:·~~I;;a,,:', ';~i:~;;:' i.:." ' ','Jf.'~tW:. '. ".:,,"'" 19.5F:;:;~!; Minneapolis-based Colfax, owned Milwaukee WOKY(AM)*~WMiL(FM)* ' ' 14.8o/~ " by brothers Steven and Mitchell Rales, Sacramerlto" ; .i~~!t'~FM, ~~~~"KSre(~l;~;.:: 33.8%: is left with KARO(FM) Nampa/Boise, Orlando WJHM(FM), WOCL-FM, WXXL(FM), WOMX-FM 36.0% Idaho, and KlOO(AM)-KLTB(FM) Boise, which do not quite fit into the Chancel­ 'Colfax stations lor group's concentration in the top 40 Source: BIA Publications BIA Master Access markets (Boise is DMA 135). Sources

32 September 2 1996 Broadcasting & Cable .' say these stations were an unwanted part ofColfax's acquisition of the Mil­ , waukee and four of the Phoenix sta­ tions. "We're evaluating the future of (: the Boise stations," Goldstein said last week. WestJnghouse/CBSllnflnity WOWL·1V FIorenceIHuntsville, Ala. paves way for union Price: $2.4 million IS Buyer: Galleria Broadcast Group, tak~n n Infinity Broadcasting Corp. has Atlanta (managing partners Gary the first step to clear the way for Its Kneller and Bruce Lumpkin); no merger with Westinghouse/CBS b7 other broadcast interests f- agreeing to sell WYSY(FM) Aurora/ChI­ Seller: Rick Biddle, Florence; no cago to Spanish Broadcasting Systems other broadcast interests (SBS) for about $35 million. FacUlties: Ch. 15, 1,410 kw visual, Negotiations concerning the sale of 400 kw aural, ant. 730 ft. ,e- a Chicago AM also are under way, Affiliation: NBC ,1 t Westinghouse Chainnan Michael Jor­ Broker: Stan Raymond & Associates ~ dan said in a company news release. Inc. Charles E. Giddens of Media Venture .. Partners, SBS's broker in the transac­ COMBOS tion, said that Infinity preferred to sell WGMS(FMJ, WBIG(FMJ and WTEM it to another party. In FCC filings con­ (AMI Washington; WBOB(FMJ and e cerning the merger, Westinghouse/ KqQlIFMJ Mlnneapolls-St. Paul; (- CBS/lnfinity pledged to sell its excess KOOL·FM, KISO(AMJ·KZON(FMI and er); owns KMLE-FM Chandler/Phoe­ Chicago stations and another unspeci­ KOYIAMI·KYOT·FM Phoenix, and nix, Ariz.; KDWB-FM, KTCZ-FM and KTCJ­ fied station to minority broadcasters. WOKYIAMI·WMILlFM) WaukeshaIMil· AM Minneapolis and KFAN(AM)-KEEY­ n The sale of an AM would leave a waukee, WIs. FM St. Paul/Minneapolis (for other holdings, see chart, page 32). Note: I- merged Westinghouse/CBS/Infinity Price: $365 million (cash) with three AMs and five FMs in the Buyer: Chancellor Broadcasting Co., Chancellor wilt become subsidiary of Chicago market-within the FCC own- Dallas (Steve Dinetz, presidentlown- Hicks, Muse, Tate & Furst Equity I ership limit. The companies still have .- -.J it two FMs too many in DallaslFort Worth. Spanish Broadcasting Systems, a leading Hispanic broadcaster, is enter­ August, 1996 ;, ing a new market with its acquisition of 0- WYSY. SBS owns Spanish KXED (AM) Los Angeles and KLAX-FM Long Beach, Calif.; WCMQ-AM-FM Miami Springs­ The Lamb and Schwier family interests Hialeah, WZMQ(FM) Key Largo and I) have sold WSKP-FM Key West, all Florida, and WXLX(AM), WSKQ-FM and WPAT-FM Great Lakes Communications, Inc. 1- New York. and h Infinity is in the process ofacquiring WYSY from Cox Communications WICU-TV ("Changing Hands," July 29). The deal ,r- also is pending FCC approval of the Erie, Pennsylvania n Westinghouse/CBS/Infinity merger. (an NBC Network affiliate)

FTC clears SFX/Multi·Market merger to If A step closer to a merger also has been (s taken by Robert EX. Sillennan's SFX SJL Communications, L. P. and Multi-Market Radio. The Federal Trade Commission announced that nei- ther of the two federal antitrust agen­ e We are pleased to have served as It cies will challenge the deal, thus end­ exclusive broker in this transaction. ing the FTC waiting period. FCC app~oval is also needed for the merger, • • which was announced in April l, \\ ( )( )[ ) ("Changing Hands," April 22). Siller­ man already is Multi-Markel's largest " shareholder. _ ()\11),\\.\' 1'(_ o Elizabeth Rathbun contributed to this • • article 431 Ohio Pike Cincinnati. Ohio 45255 (513) 528-7373 L-Ie Broadcasting & Cable September 2 1996 r-- Broadcasfinal------.

Fund II. chairman, father of Stephen); owns KZRR-FM Albuquerque and KLSK(FM) SeIer. Colfax Communications Inc., WXNR{FM) Grifton, N.C., and WACT-AM­ Santa Fe/Albuquerque, N.M. Sinclair Minneapolis (l. Steven Goldstein, FM Tuscaloosa, Ala. also owns or controls 29 TVs. Note: president); owns KARO(FM) Nampa! Facilities: WOTK: 1280 khz, 5 kw day, Sinclair's River City Broadcasting LP Boise, Idaho, and KIDO(AM)-KLTB(FM) 99 W night; WIBB-FM: 97.9 mhz, 10.5 had had LMA with stations. Boise kw, 499 ft.; WITK: 1600 khz, 2.5 kw Seller: Friendship Communications FacHftIes: WGMS: 103.5 mhz, 44 kw, day, 500 w night; WRBG: 101.7 mhz, Inc., Freeland (Eric J. Bock, presi­ 518 ft.; WBIG: 100.3 mhz, 36 kw, 274 2.5 kw, 350 ft. dent); no other broadcast interests ft.; WTEM: 570 khz, 5 kw; WBOB: 100.3 Fonnats: WOTK: urban oldies; WIBB-FM: Facilities: AM: 1300 khz, 5 kw day, mhz, 97 kw, 905 ft.; KQQL; 107.0 urban contemporary; WITK: country, 500 w night; FM: 103.1 mhz, 730 w, mhz, 100 kw, 1,080 ft.; KOOL-FM: 94.5 religious; WRBG: adult contemporary 679 ft. mhz, 100 kw, 1,655 ft.; KISO: 1230 KMAD-AM-FM Madill, Okla. Fonnats: AM: country; FM: oldies khz, 1 kw; KZON: 101.5 mhz, 100 kw, Price: $200,000 RADIO: FM 1,740 ft.; KOY: 550 khz, 5 kw day, 1 Buyer: Steve Landtroop Inc., Durant, kw night; KYOT: 95.5 mhz, 96 kw, KWNRCFMJ Henderson, Nev. Okla. Steve Landtroop owns 20% of Price: $12 million (merger) 1,570 ft.; WOKY: 920 khz, 5 kw day, 1 KSEO{AM)-KLBC{FM) Durant, Okla. Buyer: kw night; WMIL: 106.1 mhz, 50 kw, Regent Communications Inc., Seller: Radio Station KMAD, Madill, Covington, Ky. (Terry S. Jacobs, 976 ft. Okla. (Glenn E. Corbin, managing president); owns KKDD(AM) North Las Fonnads: WGMS: classical; WBIG: partner); no other broadcast inter­ oldies; WTEM: sports; WBOB: country; Vegas and KSNE-FM and KFMS-FM Las ests Vegas; WSFR(FM) (formerly WHKW-FM) KQQL: oldies; KOOL: oldies; KISO: Facilities: AM: 1550 khz, 250 w day; Corydon, Ind./Louisville, WDJX-FM, urban contemporary; KZON: adult FM: 102.3 mhz, 3 kw, 233 ft. WHKW(AM) (formerly WRES-AM) and album progressive; KOY: nostalgia, Fonnat: C & W middle-of-the-road; KYOT: new adult WFIA-AM, all Louisville, Ky.; KUDL-FM contemporary; WOKY: classic middle­ KMMJ{AM) Grand Island and KLRB and KMXV(FM) Kansas City, Mo.; of-the-road; WMIL: country (FMJ Aurora, Neb. WEZL(FM) and WXLY(FM) Charleston, Price: $700,000 S.C., and KKAT(FM) Ogden/Salt Lake WAD.(AM) and WXMT(FMJ Buyer: JRK Broadcasting LP, City and KALL(AM)-KODJ(FM) Salt Lake Hazelton, Pa. Shenandoah, Iowa (John R. Kidd, City; is buying WVEZ(FM) Louisville, Price: $3,500,000 president/68% owner of Kidd Enter­ KUTO-FM Bountiful and KZHT(FM) Buyer: Tele-Media Broadcasting Co., prises Inc., 100% voting/2% equity Provo, Utah; has time brokerage Bellefonte, Pa. (Robert E. Tudek, general partner of applicant); owns agreements with KBGO-FM Las Vegas president/50% owner); owns WRSC KGRI-AM-FM Grand Island. Kidd Enter­ and WSJW(FM) Louisville; is selling (AM) State College, WOWK(FM) Univer­ prises has applied for FM in Hast­ WLQT(FM) Kettering/Dayton and sity Park and WIKN(FM) Port Matilda, ings, Neb. WDOL(FM) Englewood/Dayton, Ohio, all Pa.; 99% of WRKZ(FM) Hershey, Seller: Prairie States Broadcasting and WHKW-AM Louisville and intellec­ WOXA-AM-FM York, WQKK(FM) Ebens­ Inc., York, Neb. (Tommy L. Gleason tual rights to WHKW-FM Louisville burg, WGLU(FM) Johnstown, all Pa.; Jr., president); owns KAWL(AM) and Seller: Southwest Florida Enterprises WPRO(AM) East Providence and KTMX{FM) York Inc., Miami (Fred Havenick, presi­ WPRD-FM Providence, R.I.; WTAD(AM), Facilities: AM: 750 khz, 10 kw; FM: dent); no other broadcast interests WOC'f'(FM) and WMOS(FM) Quincy, III.; 97.3 mhz, 50 kw, 354 ft. Facilities: 95.5 mhz, 92 kw, ant. 97.5% of WEST(AM) and WLEV(FM) Fonnats: AM: news, farm, talk; FM: 1,161 ft. Easton, Pa., and 95% of WLKW(AM) classic rock Fonnat: Country WWLl(FM) Providence, R.I., and is buying WBLF(AM) Bellefonte. WlLP(AM) (fonnerly WXPX) West WBHK(FMJ (fonnerfy WlBlJ WarriorI Seller: 4M Broadcasting Inc., Hazel­ HazeItonIWiIkes-Bane and WWFH(FM) Binningham, Ala. ton (Robert Moisey, president); owns (fonnerly WQEQ) FreelandlWilkes­ Price: $6 million (cash) WKAB(FM) Berwick, Pa. Bam, Pa. Buyer: Hand P Radio LLC, Las Facilities: AM: 1490 khz, 1 kw; FM: Price: $575,000 Vegas (H. Carl Parmer, Cecil Hettel, 97.9 mhz, 19.5 kw, 722 ft. Buyer: Sinclair Broadcast Group Inc., co-owners); is buying WTNW(AM)­ Fonnats: AM: news and information, Baltimore (David D. Smith, presi­ WBHJ(FM) (formerly WFFX) sports, middle-of-the-road; FM: clas­ dent/ 24.6% owner); owns WKRZ-FM, Tuscaloosa, Ala. Heftel and Parmer sic rock WGGY-FM, WILK-AM, WGBI-AM and have "significant interest" in Sinclair WWSH-FM, all Wilkes-Barre/Scranton, Broadcast Group Inc.'s WOBB-TV WQTK(AMJ Macon, WlBB-FM Fort Val· Pa.; KBLA-AM Santa Monica/Los An­ BessemerlTuscaloosa, Ala. Hettel is ley and WIT1((AMJ and WR8G(FMJ geles; WVRV(FM) Wilmore, Ky.lEast 65.4% owner, and Parmer is presi­ Warner Robbins, all Ga. St. Louis and KPNT (FM) St. Gene­ dent/9.8% owner, of Heftel Broad­ Price: $2,500,000 vieve/St. Louis; KMEZ (FM) Belle casting Corp., which was bought Buyer: WIKS-FM Inc., Marietta, Ga. Chasse/New Orleans and WWL-AM, Aug. 5 by Clear Channel Communi­ (Stephen J. Taylor, president/49.9% WLMG-FM and WSMB(AM) all New cations Inc. owner); owns WIKS(FM) New Bern Orleans; WBEN-AM, WWKB-AM, WKSE­ Seller: North South Broadcasting Co. and WMGV(FM) Newport, N.C. Taylor FM, WMJO-FM, WGR-AM and WWWS-AM, LLC, Montgomery, Ala. (Robert G. owns 35.13% of WTLZ(FM) Saginaw, all Buffalo, N.Y.; WFBC-AM-FM, WORD­ Brennan, member, board of man­ WMDH-AM-FM Mich., 35.15% of New AM and WSPA-AM-FM, all Greenville, agers). Brennan owns 5.6% of WBAM­ WOBZ(FM) Castle, Ind., and 52% of S.C.; WRVR-FM, WJCE(AM)-WOGY-FM, all FM Montgomery. Fort Valley. Memphis, and WLAC-AM-FM and WJCE­ FacUlties: 98.7 mhz, 6 kw, ant. 328 ft. Seller: Taylor Communications Corp., FM Nashville; is selling KZSS(AM)- Fonnat Light adult contemporary Tulsa, Okla. (Edward J. Taylor III,

34 September 2 1996 Broadcasting & Cable _------eroadcastin'a------WHRRfFMJ Avon/ROChester, N.Y. PrIce: $2 million Buyer. Heritage M~dia Corp., Dallas New Jersey station to (James Hoak, chalrma~; Paul W. Fiddick, president, RadIo Group); owns WBBF(AM)-WBEE-FM and WKLX simulcast on cable (FM) Rochester, N.Y.; WEAR-TV Pen­ sacola, Fla.; KCFX(FM) Harrisonville, Gearhart's talk show will air in morning drive KCIY(FM) Liberty and WR:H(AM)-WIL-FM and KIHT{FM), all St. LOUIS, Mo.; born of a personal penchant for morn­ WPTZ(TV) North Pole, N.Y.; WVAE-FM Radio ing TV news and information shows. Fairfield, Ohio; KOKH-TV Oklahoma Although McAllan boasts a lengthy City; KXYQ (AM) Milwaukie, KKSN-FM By Donna Petrozzello radio career that started in sales, he con­ portland and KKRH-FM Salem, all ress Broadcasting President fesses to having a TV set in nearly every Ore.; KEVN-TV Rapid City and KIW-TV Robert McAllan is aiming to kill room of his home, and he considers ra­ Lead-Rapid City, S.D.; WNNE-TV dio morning shows a logical fit for cable. Hartford, Vt.; KRPM-FM Tacoma and P two birds with one stone by "As televisions become more pervasive KKSN(AM) Vancouver, Wash.; WCHS-TV debuting morning drive host Jim Gear­ in the home, we think Charleston, W.Va., and WEMP(AM)­ hart of Press's WKXW WMYX(FM) Milwaukee and WAMG(FM) (FM) Trenton, N.J., on most people don't Wauwatosa, Wis.; is buying WMYU a Comcast Cablevi­ watch a morning tele­ (FM) Seviervillel Knoxville and WWST sion channel. vision show, they lis­ (FM) Karns, Tenn., and KNWX(AM) Not only will the ten to it," McAllan Seattle; is swapping KRPM(AM)-KCIN­ venture bring the says. "This is radio on FM Seattle for WRNO-FM, WEZB-FM and WKXW personality television." WBYU-AM, all New Orleans head-to-head with the "We're trying to Seller: Livingston Communications, morning television compete outside our Avon, N.Y. (Robert Savage, presi­ audience, it also will element with other dent); principals of Livingston also provide to WKXW ad­ media," says John own WYSL(AM) Avon. Note: Livingston vertisers with the Dziuba, WKXW vice acquired station last year for option of buying president/GM. $650,000 spots on both a radio If any New Jersey Facilities: 93.3 mhz, 2.1 kw, ant. and a cable TV show, talk show has the 381 ft. McAllan says. The potential to succeed Fonnat: Easy listening show is scheduled to on cable, it's likely to WYSRfFMJ Rotterdam/Albany, N.Y. launch Sept. 3 as Jim Gearhart's morning show on be Gearhart's. The Price: $1 million WKXW will beavailable to 1.2 show draws an esti­ Wake Up! New Jersey million Comeast households in Buyer: SFX Broadcasting Inc., New to Comcast's 1.2 mil­ New Jersey. mated 400,000 listen- York (Robert F.X. Sillerman, execu­ lion cable house­ ers weekly and reach­ tive chairman/53.2% owner); owns holds. es 18 of New Jersey's 21 counties. WGNA-AM-FM and WPYX(FM) Albany The concept of marrying a radio WKXW, better known as "New Jersey and WTRY(AM) Troy/Albany (for other show with cable television is not exact­ 10 1.5," is the state's top-rated talk holdings see "Changing Hands," ly new. Cable's E! network moved radio station, according to Arbitron's Aug. 26). Note: SFX had joint sales cameras into Howard Stern's studio spring ratings. Gearhart's 6-10 a.m. agreement with WYSR. several years ago and airs a late-night weekday show earned a 12.3 rating Seller: Jarad Broadcasting Co. of with listeners ages 12-plus. New York Inc., Long Island, N.Y. version of his weekday morning show. McAllan's vision to bring a New Jer- (Donald J. Morey, president); owns Yet, McAllan's vision seems to be WLlR(FM) Westhampton, N.Y., and WIBF-FM Jenkintown, Pa. Facilities: 98.3 mhz, 3 kw, ant. 328 ft. Fonnat: '70s WSGF·FM Sprtngfiekl/Savannah, Ga. Price: $700,000 Buyer: Point Communications Inc., Mon~auk, N.Y. (Richard P. Verne, preSIdent/owner); is buying WBMQ{AM)-WIXV(FM) Savannah, Ga.; owns WMAD-AM-FM Sun Prairie and WI~A-AM-F~ Madison, Wis.; is forming POint Madison GP with Midcontinent Medi~ Inc.,. combining Point's Wis­ consin stations and Midcontinent's WTSO-AM-WZEE-FM Madison and WMLI-

Continues on page 74

Broadcasting & Cable September 2 1996 35 ~ -IIIl'OadcBstjftG.------...... ,

Buyer: Las Vegas Radio Co. Inc., WBLffAM) BeIefonte, Pa. Changing Hands Elgin, III. (K. Richard JakIe, presi­ Price: $212,800 (includes $90,000 ContInued from page 35 dent/25% owner); Jakie owns 25% noncompete agreement) of WBIG(AM) Aurora, 111.,16.55% of Buyer: Tele-Media Broadcasting Co., FM (formerly WMXF[FM]) Sauk City/ WBEV(AM) and WXRO(FM) Beaver Dam Bellefonte (Robert E. Tudek, presi­ Madison, Wis. and WYKV(AM) Columbus, Wis., and dent/50% owner); owns WRSC(AM) Seller: Phillip O'Dell, Savannah; no 15% of WRMN(AM) and WJKL(FM) State College, and WQWK(FM) Univer­ other broadcast interests Elgin, III. sity Park and WIKN(FM) Port Matilda, Facilities: 103.9 mhz, 3 kw, ant. Seller: Regent Communications Inc., all Pa., 99% of WRKZ(FM) Hershey, 300 ft. Covington, Ky. (Terry S. Jacobs, WQXA-AM-FM York, WQKK(FM) Ebens­ Fonnat Urban president/CEO); is buying KFMS-FM burg and WGLU(FM) Johnstown, all KnH(FM) Boonville, Mo. and KSNE-FM Las Vegas (for other Pa.; WPRO(AM) East Providence and Price: $550,000 holdings, see "Changing Hands," WPRO-FM Providence, R.I.; WTAD(AM), Buyer: Zimmer Radio of Mid-Missouri July 1) WQCV(FM) and WMOS(FM) Quincy, III.; Inc., Cape Girardeau, Mo. (Jerome Facilities: 1400 khz, 1 kw 97.5% of WEST(AM) and WLEV(FM) R. Zimmer, president/25% owner); Fonnat Children's Easton, Pa., and 95% of WLKW(AM) owns KTGR(AM)-KCMQ(FM) Columbia W5'IUIAM) Stuart, Fla. WWU(FM) Providence, R.I., and is and KCLR-FM Boonville/Columbia, Price: $350,000 buying WAZL(AM) and WZMT(FM) KZIM(AM)-KEZS-FM Cape Girardeau, Buyer: MMM Broadcasting Inc., Boca Hazelton, Pa. KSIM(AM) Sikeston and KWOC(AM)­ Raton, Fla. (Susan Goldsmith, presi­ Seller: Doris Ann Clark, Bellefonte; KKLR-FM and KJEZ(FM) Poplar Bluff, dent/owner); Goldsmith is majority no other broadcast interests .! and is buying KGIR (AM) (formerly stockholder of WSBR(AM) Boca Raton Facilities: 970 khz, 1 kw day, 61 W KCGQ) Cape Girardeau-KcGQ-FM Gor­ and WMLZ(AM) and WJBW(FM) Jupiter, night donville/Cape Girardeau, all Mo. Fla. Fonnat: Country Jerome Zimmer owns WOQZ-FM Har­ Seller: Palm Beach Radio Broadcast­ risburg and 20% of WCIL-AM-FM Car­ ing Inc., West Palm Beach, Fla. WKNIIAM) Lexington, Ala. bondale, 111., WKBQ(AM) St. Louis­ (Ross W. Elder, principal); owns Price: $125,000 WKBQ-FM Jerseyville, III.1St. Louis WPBZ(FM) Indiantown and WHLG(FM) Buyer: Richard W. Dabney, Toney, and WKKX(FM) Granite City, IIUSt. Jensen Beach, Fla.; WBLK(FM) Ala.; has interest in applications for Louis; DePew, N.Y., and WDOL(FM) Engle­ FMs in Burnsville and Pontonoc, Seller: Big Country of Missouri Inc., wood and WLQT(FM) Kettering-Day­ Miss.; Flint City, Killen and Gadsden, Columbia, Mo. (Richard Billings, ton, Ohio. all Ala., and Minor Hill, Tenn. president); Billings owns KWRT(AM) Facilities: 1450 khz, 1 kw Seller: Pulaski Broadcasting, Lexing­ Boonville, together with his wife, Fonnat: Oldies ton (George Martin, president); owns Patricia, and has 50% interest in WKSR-AM-FM Pulaski, Tenn., and CP for FM in Jefferson City, Mo. WMTlIAM) Morovis, P.R. WFIX-FM Rogersville, Ala. Facilities: 93.9 mhz, 6 kw, 328 ft. Price: $265,000 Facilities: 620 khz, 5 kw day, 99 W Fonnat: Adult contemporary Buyer: Wanda Rolon Miranda, Toa night Alta, P.R. Fonnat: Sportsltalk WOJY·FM Trenton, Fla. Seller: Southwestern Broadcasting Price: $375,000 Corp. San Juan, P.R. (Pedro Roman KVDlIAM) Quanah, Tex. Crystal Broadcasting Inc., In­ Buyer: Collazo, president/owner); owns Price: $85,000 , dianapolis (Joseph F. Newman, . i WVEO-TV Aguadila. Collazo owns Buyer: Nellie Dean, Mt. Gilead, Ohio, ! 1 president); owns WLUS(AM) Gaines­ WVOZ(AM) San Juan and is president and Martin C. Leija Sr., Quanah ville, Fla. of company that owns WSJU-TV and Seller: Glen A. Ingram, Quanah; Seller: Florida Radio Partners Inc., WVOZ(AM) San Juan and WAHQ-FM owns KIXC(FM) Quanah Clarksburg, Md. (Larry Grimes, pres­ Carolina, all P.R. Facilities: 1150 khz, 500 w day ident); no other broadcast interests Facilities: 1580 khz, 2.5 kw day, 2.5 Fonnat Spanish Facilities: 101.7 khz, 3 kw, 328 ft. kw night Fonnat: Country Fonnat: Popular Latin and American WPUVIAMJ Pulaski, Va. WD.K(FM) Virgie, Ky. music Price: $75,000 Price: $265,637 KlEZlAMJ Cannel Valley, Calif. Buyer: Robert Howard Teachout, Buyer: WZLK Inc., Pikeville, Ky. (Lon­ Price: $217,300 Pulaski nie Osborne, president/owner; broth­ Buyer: Yolanda Castro, Modesto, Seller: Billy Gene Hale, Pulaski; no er of seller); owns WLSI(AM) Pikeville Calif. other broadcast interests Seller: Kenneth Osborne, Pikeville; Seller: Central Coast Communica­ Facilities: 1580 khz, 5 kw day no other broadcast interests tions, Chula Vista, Calif. (Jamie Bo­ Fonnat Bluegrass, country gold Facilities: 107.5 mhz, 580 W nilla Valdez, president/90% owner); -Compiled by Jessica Sandin Fonnat Country Valdez owns KURS(AM) San Diego RADIO: AM and KQSC(FM) Willows and 90% of Amplification KJDJ(AM) San Luis Obispo, KRQK(FM) The broker for the $800,000 sale The following item listed an incorrect Lompoc and KSBQ(AM) Santa Maria, buyer in the Aug. 26 "Changing of KFWU(TV) Fort Bragg, Calif., all Calif. Hands. " It should have read: from California Broadcasting Inc. Facilities: 540 khz, 10 kw day, 500 W to Sainte Ltd. was Kalil & Co. Inc. KKODIAM) North Las Vegas night ("Changing Hands," Aug. 19). Price: $600,000 Fonnat: Dark

74 September 2 1996 Broadcasting & Cable