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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
September 18, 1996 Commission File No. 1-1345
(Date of earliest event reported)
AMERICAN FINANCIAL ENTERPRISES, INC.
Incorporated under the laws of Ohio IRS Employer
Identification No. 31-0996797
One East Fourth Street
Cincinnati, Ohio 45202
Phone: (513) 579-2172
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AMERICAN FINANCIAL ENTERPRISES, INC.
FORM 8-K
Item 5. Other Events.
Please see the News Release attached hereto as Exhibit
1.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(a) Not Applicable
(b) Not Applicable
(c) Exhibit (99) Additional Exhibits
(1) American Financial Enterprises, Inc. News Release
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned duly authorized.
AMERICAN FINANCIAL ENTERPRISES, INC.
September 20, 1996 By: James C. Kennedy
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James C. Kennedy
Secretary
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Exhibit 1
AMERICAN FINANCIAL ENTERPRISES
REPORTS GAIN ON SALE OF CITICASTERS
(Cincinnati, Ohio: September 20, 1996) American Financial
Enterprises, Inc. ("AFEI") reported that it had received
approximately $75 million in gross cash proceeds and expects to
realize a pretax gain of approximately $55 million from this
week's closing of the merger of Jacor Communications, Inc. and
Citicasters Inc. In the merger, each Citicasters shareholder,
including AFEI, received $29.50 per share in cash plus warrants
to purchase Jacor common stock.
AFEI is a holding company whose assets consist primarily of
ownership positions in American Financial Group, Inc., American
Annuity Group, Inc. and short-term investments.
AFEI's common stock trades on the Pacific and Chicago Stock
Exchanges under the symbol "AFE".
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