Regulators said that the two companies, which have shed scores of stations since the deal was announced in October 1999, must sell 23 more stations in 10 markets.
The Federal Communications Commission said it approved the purchase after the two agreed to divest the radio stations to either third-party buyers or to an insulated trust.
The U.S. Justice Department, which reviews potential competition and antitrust concerns, had approved the merger July 20 on the condition that the two companies divest 99 stations in 27 markets. In total, 122 stations will be sold in 37 markets.
When the deal was unveiled, the companies boasted that the combined company, would have operations in 32 countries including more than 800 radio stations, more than 425,000 billboard displays, 19 television stations and significant equity interests in other leading radio broadcasting and outdoor advertising entities.
SONG REVENUE: CALM BEFORE THE STORM
J. Cole has his moment; Future-Metro have another big payday. (4/19a)
WARNER CHAPPELL ROPES IN RED CLAY STRAYS
Another big get for Guy and Carianne (4/19a)
THE COUNT: COACHELLA, FROM THE COUCH
The coziest way to experience the fest (4/19a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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