The FCC last week approved Thomas Hicks' $2.1 billion acquisition of the 81-station SFX Broadcasting group.(Brief Article)

Broadcasting & Cable, May, 1998

Regulators granted Hicks a series of ownership waivers but required him to transfer control of seven stations and to comply with the terms of a March settlement agreement with the Justice Department. That agreement calls for Hicks to divest stations in New York, Pennsylvania, South Carolina, Texas and Mississippi.