July 8, 1998 |
Hicks, Muse, Tate & Furst, a closely held investment firm, is combining LIN Television Corp. and Chancellor Media Corp. in a $1.67-billion transaction to build a radio and television business to rival CBS Corp. and other bigger companies. The move lets Chancellor, the second-largest U.S. radio broadcaster, enter the television business for the first time. LIN, which Hicks Muse bought in March, owns eight network-affiliated stations and has stakes in four others.
October 17, 1997 |
LIN Television Corp. received a surprise bid from Raycom Media Inc. that tops an offer of $1.7 billion from Hicks, Muse, Tate & Furst Inc., sources familiar with the transaction said. Raycom, a TV company controlled by Retirement Systems of Alabama, is offering more than $51 to $54 a share in cash, or as much as $1.93 billion, source said. LIN said earlier that an unnamed company bid more than Hicks Muse's $47.50-a-share offer.
June 29, 1989
LIN Transfer Gets OK: The Federal Communications Commission said it would allow LIN Broadcasting Corp. to transfer control of the licenses of seven TV stations to a new firm, LIN Television Corp. The commission said it would remain neutral on whether the transfer would affect the $6.5-billion hostile bid that McCaw Cellular Communications has made for LIN. LIN's lucrative cellular holdings include a Los Angeles franchise.
June 17, 1998 |
Chancellor Media Corp., the second-largest U.S. radio broadcaster, said it will buy a 20% stake in Z Spanish Media Corp. of Sacramento for $25 million as part of a plan to invest in broadcast properties owned by various ethnic groups. Irving, Texas-based Chancellor will also join with Capstar Broadcasting Corp., Lin Television Corp. and TSG Capital Group in an alliance to pursue other such investments in TV and radio.
March 16, 1999 |
Chancellor Media Corp. said Monday that it has decided not to put itself up for sale and will scrap a proposed $1.64-billion takeover of Lin Television Corp., instead realigning its business to focus on radio broadcasting and billboard advertising. The realignment, which includes a management shake-up and a hefty investment in the firm by its biggest shareholder--Hicks, Muse, Tate & Furst--comes after Chancellor spent two months talking to potential buyers of all or part of the company.
July 24, 1997 |
The Dallas Cowboys' Michael Irvin and Erik Williams settled their defamation lawsuit Wednesday against a Dallas-Fort Worth television station for reporting sexual assault allegations that police later said were false. Attorney Peter Ginsberg and an official for the Dallas-Fort Worth television station said they could not disclose details of the settlement with KXAS reporter Marty Griffin and Lin Television Corp., parent company for KXAS.