Premiere Radio Files for Stock Offering
Premiere Radio Networks Inc., a Sherman Oaks radio programming syndicator, has filed with the Securities and Exchange Commission for a secondary stock offering of 1.4 million shares.
Based on Premiere’s closing price of $17.75 a share Friday, sale of the stock would raise nearly $25 million.
The company is offering 1.26 million of the shares for sale; the rest is being offered by existing stockholders.
Premiere said it would use the proceeds to acquire other radio-related businesses or assets and for general corporate purposes.
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