American Radio Acquiring Two New Stations
BOSTON (AP) _ American Radio Systems Corp. said Wednesday it had agreed to buy radio stations WWMX-FM and WOCT-FM in Baltimore from Capitol Broadcasting Co. for a total of $90 million.
WWMX will be purchased for approximately $60 million and WOCT will cost approximately $30 million, American Radio Systems said in a statement.
The deal must first be approved by the Federal Communications Commission. American Radio Systems currently owns WQSR-FM and WBMD-AM in Baltimore.
``These are high quality stations with solid market position, and they’ll provide a nice complement to our existing properties. We’re very pleased to be able to increase our presence in what we believe is one of the best radio markets in the country,″ said Steve Dodge, American Radio Systems chairman and chief executive.
American Radio Systems Corp. owns or manages 42 FM and 21 AM stations around the country.
In addition, the company said last month that it had reached an agreement to merge with EZ Communications Inc. EZ Communications owns or operates 23 radio stations in seven markets nationwide.