Newspaper article The Florida Times Union

SFX Finds Way to Buy 2 Area Radio Stations

Newspaper article The Florida Times Union

SFX Finds Way to Buy 2 Area Radio Stations

Article excerpt

SFX Broadcasting Inc. has come up with a new deal to acquire

Jacksonville radio stations WFYV (104.5 FM) and WAPE (95.1 FM)

after the U.S. Justice Department sued to stop the original

deal, according to a Securities and Exchange Commission filing.

In the new deal, the two stations currently owned by Chancellor

Media Corp., along with $90.25 million in cash, will be swapped

for a Houston station currently owned by SFX, according to the

filing.

New York-based SFX, which owns four other Jacksonville

stations, is already operating WFYV and WAPE under a local

marketing agreement, so the deal won't affect the day-to-day

operations of the stations.

The stations will change hands again this spring when

Dallas-based Capstar Broadcasting Corp. completes its

acquisition of SFX. But while ownership of the stations keeps

shifting, Jacksonville radio listeners shouldn't notice any

changes, said Mark Schwartz, general manager of the SFX stations

in Jacksonville. …

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