Capstar turns off radio buys

Company heeds federal antitrust warnings

WASHINGTON — Due to objections from federal antitrust officials, Capstar Broadcasting Partners dropped its plan to acquire two radio stations in Texarkana, Texas.

Justice Department lawyers argued that Capstar’s plan to buy KATQ Radio, which owns KTWN-FM and KTFS, would have reduced competition in Texarkana. Capstar owns five radio stations in Texarkana.

“If the acquisition had gone forward, businesses that rely upon radio to sell their products would have had to pay more to advertise,” said Joel Klein, assistant attorney general for antitrust.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading