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Article: PREMIERE RADIO NETWORKS AND ARCHON COMMUNICATIONS SIGN EXTENSION AGREEMENT; TRANSACTION CLOSE EXPECTED IN JULY, 1995
- Article from:
- PR Newswire
- Article date:
- May 23, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES, May 23 /PRNewswire/ -- Premiere Radio Networks, Inc. (Nasdaq: PRNI) and Archon Communications Inc., announced today they have signed an agreement extending the time in which to close the definitive funding agreement previously announced. Closing of the transaction is scheduled to occur shortly after the Company obtains shareholder approval. The extension has been entered into so that shareholder approval may be combined with Premiere's annual shareholder meeting, which is tentatively scheduled for the end of July, 1995. Because the holders of a majority of Premiere's outstanding stock have committed to vote in favor of this transaction, shareholder approval ...