Report: CC Stations To Be Sold Are Named
February 14, 2008 at 10:30 AM (PT)
According to a report in the HOUSTON CHRONICLE, CLEAR CHANNEL COMMUNICATIONS agreed WEDNESDAY to sell two of its eight HOUSTON stations as part of an agreement to satisfy Justice Department antitrust concerns (NET NEWS 2/13). THE HOUSTON CHRONICLE is reporting that under the terms of the settlement, which were filed in federal court in WASHINGTON, D.C., CLEAR CHANNEL will sell Spanish KLOL (MEGA 101) and either Hot AC KHMX or Alternative KTBZ.
A source familiar with the matter would not confirm the report, but indicated that "six stations in four markets" would be divested, and that in a couple of cases final decisions hadn't been made."
ALL ACCESS also hears that these stations are among those pending decisions:
Spanish KSJO (LA PRECIOSA)/SAN FRANCISCO-SAN JOSE
Talker WLW-A and Top 40 WKFS, or Classic Rocker WOFX and Hot AC WNNF (RADIO 94.1)/CINCINNATI
Spanish KWID (LA PRECIOSA)/LAS VEGAS
The JUSTICE DEPARTMENT said it required the station sales because BAIN CAPITAL and THOMAS H. LEE PARTNERS, which propose to take CLEAR CHANNEL private in a transaction valued at $19.5 billion, own portions of UNIVISION, which owns six Spanish-language stations in HOUSTON, and CUMULUS MEDIA, which owns three HOUSTON stations, including Top 40 KRBE.
CLEAR CHANNEL, which owns more than 1,200 U.S. stations, also will sell Spanish-language stations in LAS VEGAS and SAN FRANCISCO and two stations in CINCINNATI under terms of the settlement.