Radio concern Chancellor Media agrees to buy Martin Media for $610 million

Article Abstract:

The radio-broadcasting firm Chancellor Media Corp., controlled by Hicks, Muse, Tate & Furst Inc. (Houston, TX), has agreed to buy Martin Media LP (Paso Robles, CA), an outdoor billboard advertising firm, for $ 610 million. Chancellor, which will gain 13,000 billboards in 12 states that serve 29 markets, has said that it wants to combine outdoor billboard and radio ads for clients in several markets. Martin Media, whose president will will resign after the deal is completed, gains its billboard ad revenues from tobacco, fashion retail and entertainment.

Comment:

Acquires Martin Media Inc, an outdoor billboard advertising firm, for $610 million

Executive changes & profiles, Outdoor Advertising, Display Advertising, Chancellor Media Corp., Martin Media Inc.

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NBC stakes out an entry point onto the Web

Article Abstract:

NBC announced that it will acquire a share of CNET Inc., the online news company, in an attempt to establish itself in the battle for Web dominance. NBC is also planning to gain control of its Snap! directory service. The company will support Snap with a strong promotional effort so that it can compete with more popular sites such as Yahoo! NBC's $26.2 million investment is a major tactical decision by the company as it is the first time that a broadcast network has gambled in the battle to create a Web entry point.

Comment:

NBC to acquire a share of CNET Inc., the online news company

On-Line Information Services, Videotex & Teletext, Promotion, Internet services, National Broadcasting Company Inc., CNET Inc. (San Francisco, California)

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Hearst-Argyle to buy broadcast unit from Pulitzer for $1.15 billion in stock

Article Abstract:

Hearst-Argyle Television Inc. has reached an agreement to purchase Pulitzer Publishing Co.'s television and radio operations for $1.15 billion in stock. Hearst-Argyle will also assume $700 million in Pulitzer's debt as part of the deal. With the acquisition, Hearst-Argyle would have nine new TV stations and five radio stations. The new stations would make the company one of the largest independent TV broadcasters in the US.

Comment:

Hearst-Argyle to purchase Pulitzer Publishing Co.'s television and radio operations for $1.15 billion in stock

Pulitzer Publishing Co., Hearst-Argyle Television Inc.

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