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Article: Infinity Broadcasting Corporation Completes Acquisition of 18 Radio Stations From Clear Channel Communications Inc.
- Article from:
- PR Newswire
- Article date:
- August 24, 2000
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NEW YORK, Aug. 24 /PRNewswire/ --
Infinity Broadcasting Corporation (NYSE: INF), a majority-owned subsidiary of Viacom Inc. (NYSE: VIA, VIA.B), today announced that it has completed the acquisition of 18 radio stations in seven markets from Clear Channel Communications Inc. (NYSE: CCU) for approximately $1.4 billion.
"This terrific new collection of radio stations moves us into five new Top 50 cities, positioning Infinity in 40 of the nation's Top 50 markets," said Mel Karmazin, Chairman and Chief Executive Officer, Infinity Broadcasting Corporation. "What's more, between TDI and Infinity Outdoor, the Company has existing outdoor advertising properties ...