FOR IMMEDIATE RELEASE:
September 04, 1996
Contact: Bob Lind
Capitol Broadcasting Company, Raleigh, NC
CAPITOL BROADCASTING SELLS WWMX-FM & WOCT-FM, BALTIMORE
RALEIGH, NC, SEPTEMBER 4, 1996 — Jim Goodmon, President and CEO of Capitol Broadcasting Company, Inc., Raleigh, NC, announced today the sale of WWMX-FM and WOCT-FM to American Radio Systems, headquartered in Boston, Massachusetts. American Radio Systems already owns WBGR-AM, WBMD-AM, and WQSR-FM in Baltimore. Recent legislation deregulating the broadcasting industry allows for multiple radio station ownership in a single market. The sale is subject to FCC approval. In the meantime, ARS plans to take over the stations under an LMA Agreement (local marketing agreement). In making the announcement, Goodmon said, “With deregulation, a combination of the Capitol and ARS stations in Baltimore really makes sense. I have a great deal of pride in what has been accomplished by our Baltimore stations. Both have a tradition of community service and involvement that is unsurpassed in radio broadcasting.”
Capitol Broadcasting Company, Inc. is a diversified communications company which owns and/or operates WRAL-TV, WRAL-Digital, WRAL-FM, Microspace, the North Carolina News Network, DTV Plus, Wolfpack Sports Marketing, and Capitol Sports Management in Raleigh, NC; WJZY-TV and WFVT-TV in Charlotte, NC; WILM-TV in Wilmington, NC; WRAZ-TV and the Durham Bulls Baseball Club in Durham, NC; and the Myrtle Beach Pelicans Baseball Club in Myrtle Beach, SC; Capitol Broadcasting Company also founded Local TV on Satellite in Raleigh, NC.