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Re: NERW Update 7/28
- Subject: Re: NERW Update 7/28
- From: Mark Shneyder <email@example.com>
- Date: Mon, 28 Jul 1997 15:33:13 -0400 (EDT)
On Mon, 28 Jul 1997, Dan Strassberg wrote:
> Broadcasting, which was then acquired by SFX. And wasn't SFX acquired by
> Chancellor? M-Street offers no insights about the new WPZE format. If
> Liberty showed any kind of format pattern, maybe this would provide a clue.
No, not yet. First, Chancellor has to complete its merger with
Evergreen. That deal is being scrutinized by the feds who are very
concerned about a very large Chancellor-Evergeen presence in NYC and
Long Island markets once the new company(Chancellor Media) is formed.
Evergreen already owns WKTU-FM,WHTZ-FM, WAXQ-FM and WLTW-FM in the City.
Chancellor has WALK-FM on Long Island. Now, Chancellor is
trying to close the deal for 3 SFX stations (WBAB-FM,WBLI-FM,
WGBB-FM) on Long Island which it has been operating under LMA since
July 1996 when SFX completed the deal for 19-station Liberty
Broadcasting group. SFX-Chancellor deal is a swap where 3 Long Island
stations would be traded for 2 Jacksonville,FL FMs and $11 million in
cash. Apparently, SFX people gave Chancellor another 30 days in early
July to close the deal. If Chancellor cant clear regulatory hurdles, the
deal is off...