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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 AND EXCHANGE ACT OF 1934
Date of Report: January 9, 1997
JACOR COMMUNICATIONS, INC.
DELAWARE
(State or Other Jurisdiction of Incorporation)
0-12404 31-0978313
(Commission File No.) (IRS Employer Identification No.)
50 East RiverCenter Boulevard
12th Floor
Covington, KY 41011
(606) 655-2276
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Item 5. Other Events
In January 1997, in addition to its previously announced acquisitions and
exchanges, Jacor Communications, Inc. (the "Company"), through its
subsidiaries, entered into (i) a binding purchase agreement with James E.
Champlin and various affiliates of Mr. Champlin pursuant to which the Company
will purchase the assets of WLKT-FM, Lexington, Kentucky, WLRS-FM, Louisville,
Kentucky and WMCC-FM and WLOC-AM, Munfordville, Kentucky for an aggregate
purchase price of $10.5 million, (ii) a binding purchase agreement with Lima
Broadcasting Co. pursuant to which the Company will purchase the assets of
WIMA-AM and WIMT-FM, Lima, Ohio, WBUK-FM, Fort Shawnee, Ohio and the
construction permit for WLVZ-FM, St. Marys, Ohio for an aggregate purchase price
of $6.5 million and (iii) a binding purchase agreement with The Great Lakes
Talking Wireless Machine, LLC pursuant to which the Company will purchase the
assets of WNVE-FM, South Bristol, New York for an aggregate purchase price of
$5.5 million. Each of these transactions is subject to various conditions,
including regulatory approval.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release dated January 9, 1997.
99.2 Press Release dated January 14, 1997.
99.3 Press Release dated January 15, 1997.
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 hereunto duly authorized.
JACOR COMMUNICATIONS, INC.
Dated: January 24, 1997 By: /s/R. Christopher Weber
-------------------------------------
R. Christopher Weber, Senior Vice
President and Chief Financial Officer
2
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
CONTACT: KIRK BREWER
847.256.9282
JACOR ANNOUNCES TRANSACTION TO PURCHASE
ASSETS OF FOUR KENTUCKY STATIONS
CINCINNATI, JANUARY 9, 1997 -- Jacor Communications, Inc. (NASDAQ: JCOR) said
today it has entered into an agreement to purchase the assets of four radio
stations in Kentucky from entities controlled by Jim Champlin.
The stations are WLKT-FM, Lexington, Ky.; WLRS-FM, Louisville, Ky.; and
WMCC-FM and WLOC-AM, Munfordville, Ky. The transaction is subject to regulatory
approval.
Randy Michaels, Jacor chief executive officer, said, "These stations fit
very will with our regional broadcast strategy."
Broker for the seller was Richard A. Foreman Associates.
Jacor Communications is headquartered in Covington, Ky. Including
announced pending acquisitions, Jacor owns, operates, represents or provides
programming for 118 radio stations in 26 U.S. broadcast areas. The company also
owns WKRC-TV in Cincinnati. Jacor plans to pursue growth through continued
acquisitions of complementary stations in its existing broadcast locations, and
radio groups or individual stations with significant presence in other
attractive locations.
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EXHIBIT 99.2
CONTACT: KIRK BREWER
847.256.9282
JACOR EXERCISES OPTION TO PURCHASE
WNVE-FM, ROCHESTER
CINCINNATI, JANUARY 14, 1996 -- Jacor Communications, Inc. (NASDAQ: JCOR) said
today that it has exercised its previously announced option to purchase WNVE-FM,
Rochester, from The Great Lakes Wireless Talking Machine Limited Liability
Company. Jacor has entered into a definitive agreement to purchase the station.
The option to purchase "The Nerve" was transferred to Jacor by American
Radio Systems, inc., as part of an exchange of assets involving four other radio
stations in December 1996.
The transaction is subject to regulatory approval.
Jacor Communications is headquartered in Covington, KY. Including
announced pending acquisitions, Jacor owns, operates, represents or provides
programming for 118 radio stations in 27 U.S. broadcast areas. The company also
owns WKRC-TV in Cincinnati. Jacor plans to pursue growth through continued
acquisitions of complementary stations within its existing broadcast locations,
and radio groups or individual stations with significant presence in other
attractive locations.
# # #
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EXHIBIT 99.3
FOR IMMEDIATE RELEASE
CONTACT: KIRK BREWER
847.256.9282
JACOR ANNOUNCES TRANSACTION TO PURCHASE
ASSETS OF FOUR OHIO STATIONS
CINCINNATI, JAN. 15 -- Jacor Communications, Inc. (NASDAQ: JCOR) said today that
it has entered into an agreement to purchase the assets of WIMA-AM and WIMT-FM,
Lima, Ohio, WBUK-FM, Fort Shawnee, Ohio, and WLVZ-FM, St. Marys, Ohio, from Lima
Broadcasting. The transaction is subject to regulatory approval.
Randy Michaels, Jacor chief executive officer, and, "These stations fit
very well with our regional broadcast strategy."
Jacor Communications is headquartered in Cincinnati. Including announced
pending acquisitions, Jacor owns, operates, represents or provides programming
for 122 radio stations in 26 U.S. broadcast areas. The company also owns
WKRC-TV in Cincinnati. Jacor plans to pursue growth through continued
acquisitions of complementary stations within its existing broadcast locations,
and radio groups or individual stations with significant presence in other
attractive locations.
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