Download this release:
 CBS-PR-061206124011.doc
April 18, 2005
INFINITY BROADCASTING STRENGTHENS RADIO OPERATIONS
IN SAN FRANCISCO MARKET
Acquires KEAR-FM From Family Stations, Inc.
San Jose's KBAY-FM And KEZR-FM To Be Divested From Infinity Portfolio
Announcements Follow Previously Announced Sale Of KFRC-AM
Infinity Broadcasting today announced that it has entered
into an agreement to acquire KEAR-FM 106.9 in San Francisco from Family Stations, Inc.
Financial terms of the agreement were not
disclosed.
Additionally, Infinity announced its
intention to sell San Jose
stations KBAY-FM and KEZR-FM.
In March, Family Stations agreed to acquire KFRC-AM in San Francisco from
Infinity.
The acquisition of KEAR-FM
brings the total number of radio stations in the market owned by Infinity to
six, including, KCBS-AM, KFRC-FM, KYCY-AM, KITS-FM and KLLC-FM.
"The acquisition of KEAR-FM, coupled with the sale of KBAY
and KEZR, strongly enhance our position in San Francisco,
the fourth largest radio market in the United States," said Joel
Hollander, Chairman and Chief Executive Officer, Infinity.
"This move is consistent with our strategy of
concentrating on markets where we generate the most revenue and cash flow."
The transactions are subject to regulatory approvals and
are expected to close later this year.
Infinity is one of the largest
major-market radio operators in the United States, with stations
covering the news, modern rock, oldies, country, FM talk, classic rock and
urban formats, among others.
A division
of Viacom Inc. (NYSE: VIA and VIAB), Infinity operates 183 radio stations, the
majority of which are in the nation's top 50 markets.
Additionally, Infinity is home to 29 of the
country's leading sports franchises amongst MLB, the NFL, the NBA and the NHL,
including the New York Yankees, New York Mets, Los Angeles Dodgers, Dallas
Cowboys, New England Patriots, New York Giants, Chicago Bears and the Detroit
Red Wings.
*
*
*
Infinity
Contact:
Karen L. Mateo
212/846-7638
|
|
MEDIA CONTACTS
Karen L. Mateo
Vice President, Communications
(212) 649 9639
Allison Mandara
Communications Coordinator
(212) 649 9606
Dana McClintock
Senior Vice President,
CBS Communications Group
(212) 975 1077
 Subscribe via RSS to CBS Radio's Press Release News Feed.
|
