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L.A.’s R&B stalwart KKBT is among the booty scored by Radio One, as are KBFB Dallas, KBXX and KMJQ Houston, Cleveland’s WJMO-AM and WZAK, WVCG-AM Miami, WJMX Greenville, S.C. and Raleigh, N.C. outlets WFXC, WFXK, WNNL and WQOK.
Monday, March 13, 2000

CLEAR CHANNEL CLEARS THE WAY

12-Station Selloff to Radio One Removes Barrier to AMFM Merger
Clear Channel has cleared the last remaining regulatory hurdles to its planned merger with AMFM by selling 12 stations to Radio One for a cool $1.3 billion.

As expected, L.A.’s R&B stalwart KKBT is among the booty scored by Radio One, as are KBFB Dallas, KBXX and KMJQ Houston, Cleveland’s WJMO-AM and WZAK, WVCG-AM Miami, WJMX Greenville, S.C. and Raleigh, N.C. outlets WFXC, WFXK, WNNL and WQOK.

Radio One is slated to assume control of KKBT when the sales closes in July, and change the station's frequency from itscurrent 92.3 dial position to 100.3. The Beat--which has languished in the ratings under its current ownership--will also see its (you should pardon the expression) power dip from 43,000 watts to 5,300.

"These divestitures should satisfy the demands of regulators," noted Clear Channel Chairman/CEO Lowry Mays. "Once this merger is complete, of course, their meddling days will be over. Haha. Hahahaha. Hahahahahahahahahah!"

Clear Channel stock dipped 12 cents on Monday to 62 on Monday, while Radio One dropped $2.31 to $63.43 .

 
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