Jacor Adds Two Anaheim Stations to Roster

Jacor Communications Inc., a large radio station owner and program distributor, has agreed to buy two radio stations in Anaheim for $30.1 million in cash to expand further in Southern California.

Jacor, whose syndicated programs include “The Rush Limbaugh Show” and “The Dr. Laura Schlessinger Show,” said it will buy KEZY-FM (95.9) and KORG-AM (1190) from closely held ML Media Partners LP, an investment fund managed by Merrill Lynch & Co.

Based in the Cincinnati suburb of Covington, Ky., Jacor owns or operates 219 radio stations throughout the United States, giving it the second-largest number of stations in the country, along with Clear Channel Communications Inc. Chancellor Media Corp. will own 463 stations once its acquisition of Capstar Broadcasting Corp. is completed.

The purchase of KEZY and KORG, which is subject to regulatory review, is the latest in Jacor’s string of acquisitions throughout the nation. The company, which reported 1997 revenue of $530.6 million, typically buys stations that have lagging or no profits and attempts to turn them around, particularly with its popular syndicated programs heard nationwide.

Jacor has been making a push in Southern California, focusing on suburban markets. Earlier this month, it agreed to buy three radio stations from Lancaster-based Antelope Broadcasting Co. for $4 million in cash. In May, it announced plans to acquire KDIF-AM in Riverside.

The company also owns Top 40 leader KIIS-FM and sports outlet KXTA-AM in Los Angeles, and is reported to be interested in KADC/KBCD-FM, known as Groove 103. Its properties also include NSN Network Services, a satellite systems integration company, and Premiere Radio Networks, a big radio syndicator.

ML Media was formed in the mid-1980s to invest in broadcast and cable properties. It acquired the Anaheim stations in 1989 for $15.1 million. The fund is now winding down and selling off its holdings.

ML’s partner is RP Cos., which manages the stations. RP was formed by former television network executives Elton Rule and I. Martin Pompadur. Rule died in 1990, but his estate remains involved with the firm.

The deal with Jacor is expected to be completed around the new year. Miles Sexton, vice president and general manager of KEZY and KORG, said “it’s a little early to anticipate anything” involving format changes. He added that he doesn’t expect any management changes at the station.

KEZY broadcast the Mighty Ducks’ games for four years before the National Hockey League franchise shifted to KRLA 1110. The team recently announced a three-year radio deal with XTRA 690, the all-sports station based in San Diego.

Jacor executives could not be reached for comment.

On Tuesday, shares of Jacor rose $1.44 a share to close at $50.25 in Nasdaq trading.

Bloomberg News contributed to this report.