Newspaper article The Florida Times Union

4 Radio Stations Sold Prism Sells to SFX Broadcasting

Newspaper article The Florida Times Union

4 Radio Stations Sold Prism Sells to SFX Broadcasting

Article excerpt

A publicly traded New York company has agreed to buy the parent

of Jacksonville's top-ranking AM radio station and three other

local stations.

SFX Broadcasting Inc. said yesterday it has agreed to buy Prism

Radio Partners L.P., a privately held owner and operator of 16

radio stations in five markets, for $105.25 million.

The four Jacksonville stations are: top ranking WOKV-AM, an all

news and talk station; WKQL-FM, with an oldies format, has the

largest local audience for Prism; WIVY-FM, with a soft rock

format; and WPDQ-AM, a smaller station that plays big band

music.

The acquisition involves two young companies.

Tuscon, Ariz.-based Prism made its first acquisition in 1992

while fast-growing SFX, formed to own and operate radio

stations, went public in 1993.

The transaction, along with other previously announced

agreements, will bring the number of radio stations SFX operates

to 51 in 16 states, more than any other owner or operator.

"This is an excellent group of stations and is totally

complementary to our operating strategy," said SFX President and

Chief Executive Officer R. …

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