Wednesday, June 22, 2005

 

Bay Area: Infinity Places Stations In Trust

To comply with FCC ownership rules, Infinity Broadcasting has placed two of its peninsula FM stations in trust. KBAY-94.5 Gilroy and KEZR-FM 106.5 San Jose have been placed in trust with Media Venture Partners principal Elliot Evers. MVP is a brokerage and appraisal firm based in San Francisco, which has previously worked with First Broadcasting on its Sacramento valley acquisitions.

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

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