Sunday, March 19, 2000
How Clear Channel became the biggest
The Cincinnati Enquirer
Clear Channel Communications Inc. became the dominant radio owner in the nation by buying companies such as Jacor, a Cincinnati radio group that grew through its own buying binge in the 1990s. Highlights of what happened here:
January 1981: Jacor buys its first three stations, AM religion outlets in Cincinnati, Toledo and Baltimore.
May 1986: Jacor buys Cincinnati's WLW-AM, the 50,000-watt voice of the Midwest, and WEBN-FM. By year's end, Jacor has 12 stations and the Georgia radio network, an affiliated news network.
September 1992: Federal telecommunications law allows companies, for the first time, to own two AM and two FM stations in the same market.
February 1993: Jacor buys WKRC-AM, and with WLW-AM, becomes the first company here to own two radio stations on the same band.
March 1994: Jacor buys WIMJ-FM, and with WEBN-FM, owns the maximum two FM stations here. By year's end, it owns 18 stations nationwide.
December 1995: Jacor is the nation's eighth largest radio company, owning 25 stations.
February 1996: Federal telecommunications law allows companies to own eight stations in the same market.
July 1996: Jacor becomes the nation's fifth's largest radio company, paying $152 million for 10 stations in the Noble Broadcast Group. It owns 35 stations nationwide.
December 1996: Jacor becomes the nation's third largest radio group after paying more than $1 billion for stations owned by Citicasters, Regent Communications Inc. and Mutual Insurance. Jacor owns 95 stations and has agreements to buy 27 more.
March 1997: Jacor buys E.F.M. Media Management for $50 million, giving it ownership of the top-rated show in the country, Rush Limbaugh.
June 1997: Jacor spends $190 million for Premiere Radio, the country's largest syndicator of comedy programming and 50 other programs.
July 1998: Jacor owns 206 stations in 20 states and 56 broadcast areas.
May 1999: Clear Channel completes $6.5 billion purchase of Jacor, becoming the nation's second largest radio company with 454 stations.
October 1999: Clear Channel becomes the nation's No. 1 radio company, paying $23.5 billion for AMFM Inc. Clear Channel owns 830 stations, including the maximum eight in Cincinnati.
March 2000: Clear Channel buys concert and live theater promoter SFX Entertainment Inc. for $4.4 billion. SFX owns or operates 120 entertainment venues in 31 markets.
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