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overview
landmarks
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landmarks
This chronology deals with Capstar and Chancellor. It
is indicative only.
It covers -
Context is provided by the broader communications and
media timeline. More
detailed chronologies for LIN, Clear
Channel and other bodies appear elsewhere on this site
beginnings
1946 Grupo Radio Centro founded by Francisco Aguirre
1953 Meyer Broadcasting founded
1962 LIN Broadcasting Corporation
acquires KTHS radio
1968 buys King Starday Records for US$5m
1971 sells James Brown music catalogue to Polydor
1974 buys KXAS Fort Worth for US$35m
1976 buys WPBS (later WUSL) radio Philadelphia
1977 Thomas Hicks creates Summit Partners for leveraged
buyouts
1981 Terry Jacobs founds Jacor
1983 Thomas Hicks forms Hicks & Haas
1985 Hicks & Haas buy Dr Pepper bottling operations
for US$100m
1986 LIN Broadcasting sells paging operations
1986 LIN Broadcasting sells six of its radio stations
1986 San Antonio Broadcasting goes public as Clear
1988 Evergreen Media established
1989 Hicks family founds Capstar Communications
Hicks Muse
1989 Hicks family founds Hicks, Muse & Co
1990 McCaw Cellular Communications acquires 52% interest
in LIN Broadcasting
1991 LIN Broadcasting takes stake in Radio Satellite Corp
with Hughes
1992
new Federal Communications Commission duopoly rules allow
ownership of two FM and two AM radio stations in an individual
US market and increase the number of stations a broadscaster
can own nationwide
1992 Evergreen acquires stations in Washington DC and
San Francisco
1993 Chancellor Broadcasting formed by Hicks, Muse and
Steven Dinetz
1993 Zell/Chilmark takes control of Jacor for US$70m
1993 Steven Hicks founds SFX Broadcasting
1994 Hicks, Muse & Co becomes Hicks, Muse, Tate &
Furst (HMTF)
1994 Chancellor buys two stations from American Media
Group for US$150m
1994 McCaw acquired by AT&T
for US$11.5bn
1994 LIN broadcasting stations spun off as LIN TV
1995 AT&T acquires rest of LIN Broadcasting Corporation
1995 Cadbury Schweppes pays US$2.5bn for Dr Pepper/Seven
Up
1995 Evergreen buys Pyramid Communications (12 radio stations
in five markets, inc Kiss 108, WXKS-AM and WJMN) for US$316m
1995 buys Broadcasting Partners (11 stations) for US$259m
1995 Meyer Broadcasting buys KTHI-TV
1995 Thomas Hicks buys Dallas Stars
1996 US Telecommunications Act of 1996 passed
1996 Evergreen sells WKLB-FM (Framingham-Boston) to Greater
Media in exchange for Greater Media's Washington DC stations
1996 Chancellor buys 12 stations from Colfax Communications
for US$365m
1996 buys eight stations from OmniAmerica Group for US$178m
1996 buys 19 stations from Shamrock Broadcasting for US$395m
1996 Jacor Communications pays US$774m for Citicasters
ten FM and four AM radio stations
1996 Jacor pays US$152 million for 10 radio stations in
Noble Broadcast Group
Capstar Broadcasting
1996 Steve Hicks leaves SFX Broadcasting, forms Capstar
Broadcasting with HMTF
1997 United Artists cinema chain bought by HMTF for US$850m
1997 HMTF and Cisneros form
Ibero-American Media Partners (IAMP)
1997 Chancellor Media Group created when Chancellor Group
merges with Evergreen in US$1.5bn deal and buys Paramount
radio stations
1997 Chancellor buys Katz Media for US$373m
1997 Capstar pays US$70m for Knight Quality Group (stations
in holdings in Worcester, Manchester, Burlington and New
Hampshire coast)
1997 pays US$4m for WHOB (Nashua)
1997 Capstar buys SFX Broadcasting (71 stations) for US$2.1bn
1997 Robert F X Sillerman, executive chair of SFX Broadcasting,
founds SFX Entertainment
1997 Jacor pays US$620m for 17 station Nationwide Communication
1997 HMTF forms STC Television (later STC Broadcasting),
buys four stations from Jupiter/Smith TV HOLDINGS
1997 STC subsidiary Sunrise Television buys Meyer Broadcasting
for US$63.75m
1997 HMTF buys Grupo MVS (Mexico's number-two paytv operator)
for US$120m
1998 Sunrise buys WPTZ and WNNE from Sinclair
1998 Capstar sells Long Island radio WBAB/WHFM, WBLI and
WGBB to Cox for US$48m
1998 sells Connecticut group of WFAS AM/FM, WAXB/WPUT
and WRKI/WINE to Frank Washington for US$15m
1998 buys WCPV and WXPS for US$5.25m
1998 HMTF buys 60 cable tv systems in Argentina for US$100m
LIN TV acquisition
1998 Lin TV acquired by HMTF for US$1.9bn
1998 KKR and HMTF buy Regal Cinemas (4,000 screens) for
US$1.57bn
1998 Clear pays US$6.5bn for Jacor Communications radio
holdings (204 stations)
1998 Chancellor buys Petry Media for US$150m
1998 buys US billboard operator Martin Media for US$610m,
later sells billboard operations to Lamar
Advertising for US$1.6bn and 30% stake in Lamar
1998 acquires Primedia Broadcast Group (8 FM Puerto Rico
stations) for US$75m
1998 buys 50% stake in Grupo Radio Centro (radio group
with 38% of Mexican market) for US$237m
1998 buys six Cleveland radio stations for US$275m
1998 buys Whiteco Outdoor Advertising for US$930m
1998 buys Capstar stations for US$4.1bn, becomes AMFM
Inc radio station chain
1998 Pearson abandons plan to
acquire Simon & Schuster's education divisions from
Viacom forUS$3.6bn and sell Reference and Business &
Professional divisions to HMTF for US$1bn
1998 HMTF establishes Hicks, Muse, Tate & Furst Europe
1999 buys Mumm & Cie and Champagne Perrier-Jouët
from Seagram for US$310m
1999 Clear pays US$23.5bn for AMFM, taking portfolio to
over 900 stations
1999 Clear required to sell Lamar
stake
1999 HMTF buys Hillsdown food group in UK for £822m
1999 HMTF sells Argentine cable tv operations to CEI Citicorp
Holdings for US$225m, subsequently acquires 70% of CEI
Citicorp
2000 Clear buys SFX Entertainment for US$4.4bn
2000 HMTF buys Burton's Biscuits from Associated British
Foods
2000 HMTF sells Mumm & Cie and Champagne Perrier-Jouët
to Allied Domecq for US$506m
2001 Claxson formed by Cisneros,
HMTF and El Sitio
2001 BT Group sells Yell directories arm to Apax Partners
and HMTF for £2.14bn
2002 LIN agrees to acquire seven stations in six markets
from STC Broadcasting, inc WDTN-TV Dayton, WEYI-TV and
WUPW-TV
2002 LIN TV IPO on New York Stock Exchange
2003 Hicks Muse Tate & First pays £642m for
Weetabix
2004 Apax and HMTF sell 34% holding in Yell to institutional
investors for £720m
2005 Hicks Muse (Europe) renames itself Lion Capital to
mark its independence
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