Capstar to acquire Knight Quality Stations

["Chris Beckwith" <beckwith@poe.org>]

According to a press release in Business Wire dated Thursday, April
17, 1997 a letter of intent has been signed by principals of
Boston-based Knight Quality Stations, Austin, Texas-based Capstar
Broadcasting Partners and Hicks, Muse, Tate & Furst Incorporated of
Dallas, Texas under which the KQS properties will be acquired for an
estimated $70 million.  Capstar already owns or will own 156
medium-market stations across the country, and the acquisition marks
Capstar's expansion into New England radio.  This deal will bring
the total market value of Capstar's radio properties to $855 million
dollars.  Under the deal Scott and Rob Knight will assume senior 
management positions with Capstar.  The principals expect to close in 
January 1998, subject to FCC approval and other details typical of an
acquisition of this nature.

The deal marks the end of a 38-year broadcasting dynasty in New 
England.  KQS was the largest independent radio group in the region 
at the time of the announcement.

Take care,

Chris Beckwith, watching from a safe distance

Knight Quality Stations, 1959-1997

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