Media Industry
Industry: Email Alert RSS FeedNews Corp. is acquiring a minority stake in Premiere Radio Networks.(Brief Article)
Broadcasting & Cable, July, 1995
News Corp. is acquiring a minority stake in Premiere Radio Net. works, the Los Angeles-based radio program producer-distributor, through an investment in Archon Communications. Archon is an investment company principally owned by former junk bond king Michael Milken and family. News Corp. is buying about 50% of Archon, which in turn owns 22.7% of publicly traded Premiere.
But Archon plans to buy additional shares in the radio company that may boost its interest to 44.7%.
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