Clear Channel Communications, parent company of SFX Entertainment, has acquired several Ohio radio stations from KNOX Broadcasting. The deal, worth $32 million, was effective Oct. 2.
Pending approval from the Federal Communications Commission, Clear Channel now owns WNCO-AM, WNCO-FM, WMVO-AM, WGLN-FM, WBZW-FM and WWBK-FM in Ashland, Ohio.
SFX was acquired by Clear Channel on Aug. 1. Clear Channel has also purchased radio broadcaster AMFM. The company now operates 1,096 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.
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.
-- By Murdoch McBride