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TS News - Westinghouse/Infinity Merger Cleared
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From: Martyn Williams <martyn@twics.com>
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Date: Sat, 28 Dec 1996 16:24:47 +0900
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From owner-ts-news@tele-satellit.com Sat Dec 28 02: 47:28 1996
TELE-satellit News, 28 December 1996
Westinghouse/Infinity Merger Cleared
WASHINGTON, DC, USA, 96/12/28 (SatND) -- The U.S. Federal Communications
Commission has finally cleared the merger of Westinghouse Electric
Corporation and Infinity Broadcasting Corporation which will create the
largest radio group in the world with combined revenues of over US$1 billion.
The FCC approved the transfer of licenses of the Infinity radio stations
to Westinghouse, the final step necessary to permit the merger. The FCC
approval contains temporary waivers of the radio/television cross-
ownership rule. The future of this rule is currently being considered by
the FCC.
In addition to the new combined radio group, the Westinghouse/CBS
organisation includes the CBS Television Network, 14 owned and operated
Television Stations, and CBS Enterprises; Group W Satellite Communications;
and TDI, a leading outdoor advertising company previously owned by Infinity
Broadcasting.
(c)TELE-satellit 1996. All rights reserved.
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