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P.M. BRIEFING : Texas Radio Sales Talks Cut Off

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From Times Wire Services

Command Communications Inc. said today that talks have ended on previously announced plans to sell radio stations in Houston and Dallas and a Texas-wide radio network for $86.5 million to Evergreen Media Corp.

Command said the decision reflects “the continued strong performance of the properties and the brightening prospects for the Texas economy.”

The New York-based company said it had “secured additional sources” of both equity and bank financing and now plans to make acquisitions in Texas and other markets.

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Command signed an agreement in January to sell KRLD-AM of Dallas and the Texas State Radio Networks to Evergreen Media for $58.5 million. Under a separate deal, Evergreen would have acquired KODA-FM in Houston for $28 million from the Sillerman Companies, a New York-based investor in Command and other broadcast properties.

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