ROANOKE TIMES
Copyright (c) 1997, Roanoke Times
DATE: Saturday, January 18, 1997 TAG: 9701200097
SECTION: BUSINESS PAGE: A-7 EDITION: METRO
SOURCE: CODY LOWE STAFF WRITER
Roanoke radio stations WYYD (107.9 FM) and WROV (96.3 FM and 1240 AM) will come under new ownership in a merger agreement announced this week.
Baltimore-based Benchmark Communications, which owns WYYD and WROV, will become a wholly owned subsidiary of Capstar Broadcasting Partners Inc. of Texas.
In a memo, Benchmark told employees the decision to merge with Capstar was based partly on a desire to become a publicly traded company rather than relying solely on the capital of a syndicate of independent investors. "We believe consolidation will be good for the industry and the consolidators," the company said.
Joe Conway, general manager of WROV, said Capstar's philosophy has been to let the stations it takes over continue to manage themselves independently - even allowing those units to acquire new stations. He said he expects no significant changes in the operations of the local stations as a result of the merger.
By the end of February, Capstar - which has existed for about six months, Conway said - is expected to have more than 120 stations under contract. That would make it "the largest radio broadcaster in the world in terms of stations owned," according to the Benchmark memo.
WYYD, a country music station, has been the top-rated station with listeners aged 12 and older in the Roanoke-Lynchburg market for several years. WROV-FM, playing contemporary and classic rock, also is consistently highly rated.
LENGTH: Short : 36 linesby CNB