America's largest radio operator, Clear Channel Communications, Inc., said it has agreed to sell off 72 stations in 27 markets in conjunction with its pending merger with AMFM, Inc.
The proposed divestitures, which are subject to regulatory approval and also contingent on the closing of the AMFM merger, involve other major radio operators including Cox Radio Inc., Infinity Broadcasting and Hispanic Broadcasting Corp.
The announcement comes a week after Clear Channel said it plans to acquire sports and entertainment promoter SFX Entertainment Inc. for some $2.8 billion.