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Capstar, Chancellor and HMTF : chronology

Chronology

This chronology deals with Capstar, Chancellor and Hicks Muse Tate & Furst (HMTF). It is indicative only.


It covers -

  • beginnings
  • Hicks, Muse (1989)
  • Capstar Broadcasting (1996)
  • LIN TV (1998)

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 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