Wednesday, June 22, 2005
Bay Area: Infinity Places Stations In Trust
The move by Infinity is nothing more than a cosmetic one in a legal sense, as it allows the company to continue to operate the two stations until either they can be sold or FCC rule changes on ownership limits are finalized.
Infinity owns nine Bay Area radio stations, two Bay Area TV stations; plus six radio and two TV stations in Sacramento. To satisfy FCC stipulations in parent Viacom's acquisition of KOVR-13 Stockton-Sacramento, Infinity divested KFRC-AM 610 San Francisco to Family Stations. The back half of that transaction has IBC getting KEAR-FM 106.9 San Francisco from Family in a deal totalling $60 million