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Chancellor Names President, CEO

April 30, 1998|From Bloomberg News

Chancellor Media Corp. named Jeffrey A. Marcus president and chief executive, effective June 1, filling posts formerly held by Scott Ginsburg, who resigned earlier this month because of differences over his role at the radio broadcaster.

Marcus, 51, will replace Chancellor Chairman Thomas O. Hicks, who served as interim president and CEO since Ginsburg, 45, left about two weeks ago. Hicks is also chairman of Hicks, Muse Tate & Furst Inc., Irving, Texas-based Chancellor's biggest shareholder.

Marcus is founder and chairman of Dallas-based Marcus Cable Co., the largest closely held U.S. cable TV company. He agreed to sell Marcus Cable earlier this month.

"I share the vision of [Chancellor's] board to build a leading international media company," said Marcus, who's been a director since 1997. "There are a number of outstanding accretive investment opportunities available that could support our strategy."

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