Chancellor Media moves

[Dib9@aol.com]

Chancellor made three moves today intended to boost the company's stock prize.
The Company's President & CEO was replaced, the proposed purchase of LIN TV
was canceled, and it was announced that Hicks, Muse had decided NOT to pursue
a sale of the company.  The merger between Chancellor and Capstar will go
forward asd planned.  In cable TV interviews, Tom Hicks said that they intend
to focus on their core businesses: radio and outdoor advertising and will be
moving into the Internet.  The expansion into television was unpopular with
stockholders and contributed to the recent 20% drop in the company's stock
price.  

Today's announcement should end the speculation that Clear Channel would
acquire Chancellor.

Dan Billings
Bowdoinham, Maine

------------------------------