SFX parent company Clear Channel Communications says it has inked a "definitive agreement to acquire KMNS (AM), KSFT- FM, KWSL(AM), KSEZ(FM) and KGLI(FM) in Sioux City," for an undisclosed purchase price. The transaction is subject to Federal Communications Commission approval. After an aggressive acquisitions campaign in sports and entertainment, SFX Entertainment established an early lead in marketing “live experiential” events. SFX develops and manages touring Broadway shows, and sells Broadway subscription series and individual productions in 55 markets. An integrated franchise that promotes and produces a broad variety of live entertainment events locally, regionally and nationally, SFX has 122 venues overall, and owns or operates venues in 31 of the top 50 domestic markets.
SFX was acquired by Clear Channel on Aug. 1. Clear Channel has also purchased radio broadcaster AMFM, netting the company a total of 874 radio and 19 television stations in the United States, with equity interests in over 240 radio stations around the world. In its other significant business, Clear Channel operates more than 700,000 outdoor advertising displays,including billboards, street furniture and transit panels.
-- By Murdoch McBride