Clear Channel Communications, the parent company of SFX Entertainment will acquire the following McCoy Broadcasting radio stations: KPAY-AM, KMXI-FM and KHSL-FM, in Chico, Calif.; KPNW-AM, KODZ-FM and KDUK-FM in Eugene, Or.; and KCCY-FM, KDZA-FM, KGHF-AM and KCSJ-AM in Pueblo, Colo. for a reported purchase price of $35.5 million. The transaction is subject to Federal Communications Commission approval.

As reported earlier, "Clear Channel operates 1,106 radio and 19 television stations in the United States and has equity interests in over 240 radio stations internationally. Clear Channel also operates more than 750,000 outdoor advertising displays, including billboards, street furniture and transit panels across the world. SFX is also part of the Clear Channel family and is the world's largest diversified promoter, producer and presenter of live entertainment events and is also a leading fully integrated sports marketing and management company."

-- By Murdoch McBride