FORM 10-Q
              SECURITIES AND EXCHANGE COMMISSION
                       Washington, D. C.
                            20549
                   
                   
                   
[ X ]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR
       15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

       For the quarterly period ended September 30, 1997
                         
                        OR
                         
                         
[   ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR
       15(d) OF THE SECURITIES EXCHANGE ACT OF 1934



            Commission File No. 0-12404
                         
            JACOR COMMUNICATIONS, INC.
                         
                         
A Delaware Corporation                        Employer
                                          Identification
                                          No. 31-0978313
                         50 East RiverCenter Blvd.
                         12TH Floor
                         Covington, KY  41011
                         Telephone (606) 655-2267
                                
                                
                                
Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding twelve
months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such
filing requirements for the past ninety days.
               Yes    X              No



At November 5, 1997, 45,564,401 shares of common stock were
outstanding.

<PAGE>

                   JACOR COMMUNICATIONS, INC.

                            INDEX

                          

                          

                                                           Page
                                                          Number
PART I.  Financial Information
     Item 1. - Financial Statements
   
          Condensed Consolidated Balance Sheets
            as of September 30, 1997 and December
            31, 1996                                         3

          Condensed Consolidated Statements of
            Operations for the three months and
            nine months ended September 30, 1997
            and 1996                                         4

          Condensed Consolidated Statements of
            Cash Flows for the nine months ended
            September 30, 1997 and 1996                      5

          Notes to Condensed Consolidated Financial
            Statements                                       6



 Item 2. - Management's Discussion and Analysis
               of Financial Condition and Results
               of Operations                                11
               
PART II. Other Information

     Item 6. - Exhibits and Reports on Form 8-K             17

     Signatures                                             20

<PAGE>

<TABLE>

                  JACOR COMMUNICATIONS, INC. AND
                      SUBSIDIARIES CONDENSED
                   CONSOLIDATED BALANCE SHEETS
                            (UNAUDITED)
                 (In thousands, except share data)

<CAPTION>
                                            September 30,         December 31,
                                                  1997                1996
                     ASSETS
<S>                                        <C>                   <C>
Current assets:
  Cash and cash equivalents                 $    18,779            $  78,137
  Accounts receivable, less allowance for
    doubtful accounts of $5,436 in 1997
    and $3,950 in 1996                          118,500               79,502
  Prepaid expenses and other current assets      32,417                8,963
Total current assets                            169,696              166,602

Property and equipment, net                     175,567              131,488
Intangible assets, net                        2,003,526            1,290,172
Other assets                                     57,743              116,680
            Total assets                    $ 2,406,532          $ 1,704,942

                     LIABILITIES
Current liabilities:
  Accounts payable, accrued
    expenses and other
    current liabilities                     $    86,504           $  55,532
          Total current liabilities              86,504              55,532

Long-term debt                                  834,500             670,000
5 1/2% Liquid Yield Option Notes                123,619             118,682
Other liabilities                               114,927             108,914
Deferred tax liability                          334,549             264,878

Commitments and contingencies

                     SHAREHOLDERS' EQUITY
Preferred Stock, authorized and unissued
   4,000,000 shares                                  -                 -
Common Stock, $0.01 per share par
  value; authorized 100,000,000
   shares, issued and outstanding
   shares:
   45,564,401 in 1997 and 31,287,221 in 1996       455                  313
Additional paid-in capital                     860,530              432,721
Common stock warrants                           31,500               26,500
Unrealized gain on investments                       -                2,042
Retained earnings                               19,948               25,360
            Total shareholders' equity         912,433              486,936

            Total liabilities and
              shareholders' equity         $ 2,406,532          $ 1,704,942

                   The accompanying notes are an integral
          part of the condensed consolidated financial statements.

</TABLE>
<PAGE>

<TABLE>

                        JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
         For the three months and nine months ended September 30, 1997 and 1996
                          (In thousands, except per share amounts)
                                         (UNAUDITED)


<CAPTION>

                                 Three Months Ended        Nine Months Ended 
                                   September 30,             September 30,
                                    
                                  1997        1996         1997         1996

<S>                           <C>         <C>          <C>          <C>
Broadcast revenue             $  161,733  $   60,143   $  413,689   $  142,176
  Less agency commissions         17,173       5,817       44,748       14,656
    Net revenue                  144,560      54,326      368,941      127,520

Broadcast operating expenses      93,734      38,273      251,513       91,694
Depreciation and amortization     21,900       5,166       53,097       10,601
Corporate general and
  administrative expenses          3,406       1,658        9,240        4,080
    Operating income              25,520       9,229       55,091       21,145

Interest expense                 (20,951)     (6,844)     (60,081)     (13,397)
Gain on sale of radio stations      -           -          10,801        2,539
Other income, net                    214       3,160        2,733        4,701
    Income before income taxes
      and extraordinary loss       4,783       5,545        8,544       14,988

Income taxes                       4,300       3,445        6,500        7,285
    Income before
      extraordinary loss             483       2,100        2,044        7,703
    Extraordinary loss, net of
      income tax credit           (1,900)     (2,015)      (7,456)      (2,966)

Net (loss) income             $   (1,417) $       85   $   (5,412)  $    4,737


NET (LOSS) INCOME PER COMMON SHARE:

Before extraordinary loss       $ 0.01      $  0.06      $ 0.05       $  0.31
Extraordinary loss               (0.04)       (0.06)      (0.18)        (0.12)
Net (loss) income per
  common share                  $(0.03)     $  0.00      $(0.13)      $  0.19
Number of common shares used
  in per share computations      49,113      33,303       41,647       24,880

             The accompanying notes are an integral
    part of the condensed consolidated financial statements.
</TABLE>
<PAGE>

<TABLE>
                 JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES 
               CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
            for the nine months ended September 30, 1997 and 1996 
                               (In thousands)
                                 (UNAUDITED)


<CAPTION>
<S>                                            <C>             <C>
                                                    1997            1996 

Cash flows from operating activities:
Net cash provided by operating activities       $   31,109      $   17,656
Cash flows from investing activities:
  Deposits paid on broadcast properties            (26,225)           -
  Capital expenditures                             (12,485)         (7,506)
  Cash paid for acquisitions                      (542,074)       (827,941)
  Proceeds from sale of investments                 73,813            -
  Proceeds from sale of radio stations              19,450           6,595
  Loans originated and other                         -              (7,147)

Net cash used by investing activities             (487,521)       (835,999)

Cash flows from financing activities:
  Proceeds from issuance of long-term debt         324,700         703,000
  Proceeds from issuance of 8 3/4% Notes           150,000            -
  Proceeds from issuance of LYONs                     -            115,172
  Proceeds from issuance of common stock           246,154         317,109
  Repayment of long-term debt                     (310,200)       (248,500)
  Payment of finance costs                         (13,927)        (21,342)
  Other                                                327          (1,712)
Net cash provided by financing
  activities                                       397,054         863,727

Net (decrease) increase in cash and
  cash equivalents                                 (59,358)         45,384
Cash and cash equivalents at
  beginning of period                               78,137           7,437

Cash and cash equivalents at end of period      $   18,779       $  52,821

Supplemental schedule of non-cash investing
  and financing activities:
Common stock issued in acquisitions             $  179,428       $    -  
Warrants issued in acquisitions                      5,000          26,500 
Liabilities assumed in acquisitions                 36,851         233,135 
Fair value of assets exchanged, net of cash        104,000            -



               The accompanying notes are an integral part
           of the condensed consolidated financial statements. 
</TABLE>
<PAGE>

                 JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES
            NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS




1.   FINANCIAL STATEMENTS

     The December 31, 1996 condensed consolidated balance sheet
     data was derived from audited financial statements, but does
     not include all disclosures required by generally accepted
     accounting principles.  The financial statements included
     herein have been prepared by the Company, without audit,
     pursuant to the rules and regulations of the Securities and
     Exchange Commission.  Although certain information and
     footnote disclosures normally included in financial
     statements prepared in accordance with generally accepted
     accounting principles have been condensed or omitted
     pursuant to such rules and regulations, the Company believes
     that the disclosures are adequate to make the information
     presented not misleading and reflect all adjustments
     (consisting only of normal recurring adjustments) which are
     necessary for a fair presentation of results of operations
     for such periods.  Results for interim periods may not be
     indicative of results for the full year.  It is suggested
     that these financial statements be read in conjunction with
     the consolidated financial statements for the year ended
     December 31, 1996 and the notes thereto.

2.   ACQUISITIONS AND DISPOSITIONS

     Completed Radio Station Acquisitions and Dispositions

     First Six Months Transactions

     In the first six months of 1997, the Company completed
     acquisitions of 52 stations in 20 broadcast areas for a
     purchase price consisting of (i) $225.8 million in cash, of
     which $26.1 million was placed in escrow in 1996, (ii) the
     issuance of approximately 3.55 million shares of common
     stock valued at $105.9 million, and (iii) the issuance of
     warrants to acquire 500,000 shares of common stock at $40
     per share valued at $5.0 million.
     
     
     The Company also completed three separate like-kind
     exchanges of broadcast properties, exchanging five stations
     and $27.0 million in cash, of which $3.6 million was placed
     in escrow in 1996, for nine stations and $16.0 million in
     cash. The Company sold one station in San Diego, California
     for $6.0 million.
     
     
     July Transactions

     The Company acquired WLTF-FM and WTAM-AM in Cleveland, Ohio
     from Secret Communications, Inc. for approximately $45.0
     million consisting of 750,000 shares of Jacor common stock
     valued at approximately $21.0 million as of the signing of
     the agreement and cash of approximately $24.0 million.
     
     
     The Company acquired WXZZ-FM and WTKT-AM in Georgetown, Kentucky
     and WKQQ-FM in Lexington, Kentucky for $24.0 million in cash
     from Village Communications, Inc.

     The Company acquired WLEC-AM and WCPZ-FM in Sandusky, Ohio for
     $7.7 million in cash from Erie Broadcasting II, Inc.
<PAGE>

                 JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES
            NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                
                                
                                
2.   ACQUISITIONS AND DISPOSITIONS, Continued

     The Company acquired WLKT-FM in Lexington, Kentucky for $5.1
     million in cash from Newport Communications L.L.C., BRC
     Media Management, Inc., James E. Champlin and Martin F.
     Beck.
     
     
     The Company acquired KBKK-FM in Spanish Fork, Utah for approximately
     $4.5 million in cash from Garcia Broadcasting, L.L.C.

     August Transactions

     The Company acquired WITS-AM and WYMR-FM in Sebring, Florida
     for approximately $0.7 million in cash from Outback
     Broadcasters, Inc.
     
     The Company acquired KMXN-AM in Santa Rosa, California for
     approximately $0.1 million in cash from Cardinal Communications, Inc.
     
     The Company disposed of WXZZ-FM in Lexington, Kentucky for
     approximately $3.5 million in cash.
     
     September Transactions

     The Company acquired KAHS-AM in Thousand Oaks, California
     for approximately $0.4 million in cash from Buenaventura
     Communications, Inc.
     
     The Company acquired WCBW-FM in St. Louis, Missouri for
     $13.2 million in cash from Continental Broadcasting Group, Inc.
     
     
     Completed Broadcasting Services Acquisitions

     In the first nine months of 1997, the Company completed
     acquisitions of four broadcasting services companies for a
     purchase price consisting of (i) $216.5 million in cash, and
     (ii) the issuance of approximately 1.48 million shares of
     common stock valued at $52.7 million.
     
<PAGE>     
     
     
                 JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES
            NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                
                                
                                
2.   ACQUISITIONS AND DISPOSITIONS, Continued

     All of the above acquisitions have been accounted for as
     purchases.  The excess cost over the fair value of net
     assets acquired is being amortized over 40 years.  The
     results of operations of the acquired businesses are
     included in the Company's financial statements since the
     respective dates of acquisition.  Assuming the first nine
     months acquisitions in 1997 and all of the 1996 acquisitions
     had taken place at the beginning of 1996, unaudited pro
     forma consolidated results of operations would have been as
     follows (in thousands except per share amounts):

                                           Pro forma (Unaudited)
                                Three Months Ended        Nine Months Ended 
                                  September 30,              September 30,
                                1997          1996        1997         1996

     Net revenue               $145,348   $136,173      $414,480    $386,383

     Net income (loss) before
       extraordinary items     $  1,531   $ (1,130)     $  2,387    $ (7,812)

     Net (loss) income         $   (369)  $ (3,145)     $ (5,069)   $(10,778)

     Net income (loss)
       per common share before
       extraordinary items     $   0.03   $  (0.02)     $   0.05    $  (0.17)

     Net (loss) income per
       common share            $  (0.01)  $  (0.07)     $  (0.10)   $  (0.24)

     Recently Completed Acquisitions Subsequent to September 30, 1997
                                
     The Company acquired KXIC-AM and KKRQ-FM in Iowa City, Iowa for $8.0
     million in cash from Iowa City Broadcasting Company, Inc. and
     Thomas E. Ingstad.

     The Company acquired KIGN-FM, KOLZ-FM, KGAB-AM and KLEN-FM
     in Cheyenne and Orchard Valley, Wyoming for $5.5 million in
     cash from Magic City Media.
     
     The Company acquired WNCD-FM and WNIO-AM in Niles, Ohio
     through a purchase of the outstanding stock of WN
     Broadcasting Corp. for $3.4 million in cash.
     
     The Company acquired the rights to The Dr. Laura
     Schlessinger Show from Synergy Broadcasting, Inc. and the
     assets of Multiverse Networks, L.L.C., one of the nation's
     top network radio sales representation firms and the outside
     sales representation arm of The Dr. Laura Schlessinger Show,
     for $71.5 million in cash.
     
     Pending Radio Station Acquisitions and Dispositions

     In June 1997, the Company entered into a binding agreement
     with American Radio Systems, Inc. whereby Jacor will
     exchange the assets of WDAF-AM, KYYS-FM, KUDL-FM, and KMXV-
     FM in Kansas City, Missouri for the assets of WMMX-FM, WTUE-
     FM, WLQT-FM, WXEG-FM, WBTT-FM, and WONE-AM in Dayton, Ohio.
     
<PAGE>
     
                 JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES
             NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                
                                
                                
2.   ACQUISITIONS AND DISPOSITIONS, Continued

     In August 1997, the Company entered into a binding
     agreement with Trumper Communications, Inc., whereby Jacor
     will exchange the assets of  KBKK-FM in Spanish Fork, Utah for the 
     assets of KISN-AM in Salt Lake City, Utah.

     In October 1997, the Company entered into a letter of intent
     to purchase the assets of Nationwide Communications, Inc.'s
     17 radio stations for $620.0 million (the "Nationwide
     Transaction").  The stations are located in Dallas, Houston,
     Minneapolis, Phoenix, Baltimore, San Diego, Cleveland and
     Columbus.  The Company anticipates this transaction will
     close in the second quarter of 1998.

     The Company has also entered into agreements to purchase FCC
     licenses and substantially all of the broadcast assets of 27
     stations in seven of the Company's existing broadcast areas
     and in five new broadcast areas for a total purchase price
     of $99.2 million, of which $26.8 million has already been
     paid in escrow.
     
     
3.   ISSUANCE OF COMMON STOCK

     In May 1997, the Company completed an offering of 6,650,000
     shares of common stock at $31.00 per share net of
     underwriting discounts of $1.31 per share (the "Offering").
     The over-allotment option was also exercised by the
     underwriters resulting in the issuance of an additional
     997,500 shares.  Net proceeds to the Company from the
     Offering were approximately $226.0 million.  Concurrently
     with the Offering, the Company issued 673,628 shares of
     common stock for $20.0 million to affiliated designees of
     the Company's largest shareholder, The Zell/Chilmark Fund
     L.P.
     
     
4.   ISSUANCE OF SUBORDINATED NOTES

     In June 1997, the Company issued $150.0 million of 8 3/4%
     Senior Subordinated Notes (the "Notes") in a private
     placement offering. In connection with the Notes Offering
     the Company entered into a registration rights agreement,
     which will require the Company within 180 days to exchange
     the Notes for identical notes registered with the Securities
     and Exchange Commission.  Net proceeds to the Company were
     $147.0 million. The Notes will mature on June 15, 2007.
     Interest on the Notes is payable semi-annually.  The Notes
     will be redeemable at the option of the Company, in whole or
     in part, at any time on or after June 15, 2002.  The
     redemption prices commence at 104.375% and are reduced by
     1.458% annually until June 15, 2005 when the redemption
     price is 100%.
     
     The Notes are general, unsecured obligations of the Company
     subordinated in right of payment to all senior debt of the
     Company including the Credit Facility.  The Notes are
     jointly and severally, fully and unconditionally guaranteed
     on a senior subordinated basis by Jacor and substantially
     all subsidiaries of Jacor (the "Subsidiary Guarantors"). JCC
     and each of the Subsidiary Guarantors are wholly owned
     direct or indirect subsidiaries of Jacor.  Separate
     financial statements of JCC and each of the Subsidiary
     Guarantors are not presented because Jacor believes that
     such information would not be material to investors.
     
<PAGE>
     
                 JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES
             NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                
                                
                                
4.   ISSUANCE OF SUBORDINATED NOTES, Continued

     The indenture contains certain covenants which impose
     certain limitations and restrictions on the ability of the
     Company to incur additional indebtedness, pay dividends or
     make other distributions, make certain loans and
     investments, apply the proceeds of asset sales (and
     use the proceeds thereof), create liens, enter into certain
     transactions with affiliates, merge, consolidate or transfer
     substantially all its assets and make investments in
     unrestricted subsidiaries.


5.   LONG-TERM DEBT

     New Credit Facility

     In September 1997, the Company entered into a new $1.15
     billion credit facility (the "Credit Facility") with a
     syndicate of banks and other financial institutions.  The
     Credit Facility replaces the June 1996 Credit Facility,
     giving the Company an additional $400 million in borrowing
     capacity, and consists of two components: (i) a revolving
     credit facility of up to $750 million with a mandatory
     commitment reduction of $50.0 million on June 30, 2000
     continuing semi-annually through June 2003, and a final
     maturity date of December 31, 2004; and (ii) a term loan of
     up to $400 million with a scheduled reduction of $35.0
     million on December 31, 1999 with increasing semi-annual
     reductions thereafter and a final maturity date of December
     31, 2004.  At September 30, 1997, the outstanding balance of 
     the term loan was $400.0 million.

     The Credit Facility is collateralized by a first priority
     perfected pledge of all capital stock owned by the Company
     and loans under the Credit Facility are guaranteed by the
     Company and each of the Company's direct and indirect
     subsidiaries.  The Company's obligations with respect to the
     Credit Facility and each guarantor's obligations with
     respect to the related guaranty are collateralized by
     substantially all of their respective assets, and, in the
     case of the Company's subsidiaries, capital stock.
     
     During the first nine months of 1997 the Company recognized
     an extraordinary loss of approximately $7.5 million, net of
     income tax credit, related to the write-off of debt
     financing costs.
     
     
6.   RECENTLY ISSUED ACCOUNTING STANDARDS

     In March 1997, the Financial Accounting Standards Board
     issued Statement of Financial Accounting Standards No. 128,
     "Earnings Per Share".  The Company will implement the
     Statement in the fourth quarter 1997.
     Diluted Earnings Per Share, as defined by the Statement, is
     expected to approximate the Company's fully diluted Earnings
     Per Share, as currently calculated.  The Company will also
     be required to present basic earnings per share, which will
     be calculated using the weighted average shares of common
     stock outstanding for the reporting period without giving
     effect to outstanding options, warrants or other potentially
     dilutive securities.

<PAGE>
     
           JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES

                                

                                

                                

Item 2.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations.


GENERAL


The following discussion should be read in conjunction with the
financial statements beginning on page 3.

In the following analysis, management discusses station operating
income excluding depreciation and amortization.  Station
operating income excluding depreciation and amortization should
not be considered in isolation from, or as a substitute for,
operating income, net income or cash flow and other consolidated
income or cash flow statement data computed in accordance with
generally accepted accounting principles or as a measure of the
Company's profitability or liquidity.  Although this measure of
performance is not calculated in accordance with generally
accepted accounting principles, it is widely used in the
broadcasting industry as a measure of a company's operating
performance because it assists in comparing station performance
on a consistent basis across companies without regard to
depreciation and amortization, which can vary significantly
depending on accounting methods (particularly where acquisitions
are involved) or non-operating factors such as historical cost
bases.  Station operating income excluding depreciation and
amortization also excludes the effect of corporate general and
administrative expenses, which generally do not relate directly
to station performance.

This Report includes certain forward-looking statements within
the meaning of Section 27A of the Securities Act.  When used in
this Report, the words "believes," "anticipates," "expects" and
similar expressions are intended to identify forward-looking
statements.  Such statements are subject to a number of risks and
uncertainties.  Actual results in the future could differ
materially from those described in the forward-looking statements
as a result of the matters discussed in this Report generally.
The Company undertakes no obligation to publicly release the
result of any revisions to these forwardlooking statements that
may be made to reflect any future events or circumstances.

LIQUIDITY AND CAPITAL RESOURCES

Completed Acquisitions and Dispositions

In the first nine months of 1997, the Company completed
acquisitions of: 66 radio stations in 26 different broadcast
areas; substantially all of the assets relating to the broadcast
distribution and related print and electronic media publishing
businesses of EFM Media; the assets of NSN Network Services, a
leading provider of satellite and network services for the radio
broadcasting industry; the assets of Airwatch Communications,
Inc. and Airtraffic Communications, Inc.; and effected a merger
with Premiere Radio Networks, Inc.  These acquisitions required
cash consideration in the aggregate of approximately $571.9
million, of which approximately $29.8 million was placed in
escrow in 1996.  The acquisitions were funded through: (i) net
proceeds of $246.2 million from a common stock offering, (ii) net
proceeds of $147.0 million from the issuance of 8 3/4% notes, (iii)
borrowings under the Credit Facility, and (iv) proceeds of
approximately $93.3 million from the sale of certain investments
and two radio stations.

<PAGE>

           JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES

                                

                                

LIQUIDITY AND CAPITAL RESOURCES, Continued

Recently Completed Acquisitions Subsequent to September 30, 1997

In October 1997, the Company completed acquisitions of eight
radio stations in three broadcast areas for aggregate cash
consideration of approximately $16.9 million.  Additionally, the
Company acquired the rights to The Dr. Laura Schlessinger Show
from Synergy Broadcasting, Inc. and the assets of Multiverse
Networks, L.L.C., one of the nation's top network radio sales
representation firms and the outside sales representation arm of
The Dr. Laura Schlessinger Show, for $71.5 million in cash.  The
acquisitions were funded from borrowings under the Credit
Facility.

Pending Acquisitions and Dispositions

In October 1997, the Company entered into a letter of intent to
purchase the assets of Nationwide Communications, Inc.'s 17 radio
stations for $620.0 million.  The stations are located in Dallas,
Houston, Minneapolis, Phoenix, Baltimore, San Diego, Cleveland
and Columbus.  The Company anticipates this transaction will
close in the second quarter of 1998.

The Company has also entered into agreements to purchase FCC
licenses and substantially all of the broadcast assets of 27
stations in seven of the Company's existing broadcast areas and
in five new broadcast areas for a total purchase price of $99.2
million, of which $26.8 million has already been paid in escrow
through November 5, 1997.

Pending Acquisition Financing

As of November 5, 1997, the Company had $517.5 million of
outstanding indebtedness under the Credit Facility, which
includes all borrowings used to fund the recently completed
transactions, and available borrowings of $632.5 million.  The
Company will finance its pending acquisitions from a combination
of one or more of the following sources: utilizing available
borrowings under the Credit Facility; the Company's working
capital; and/or proceeds that may be raised through private
and/or public offerings of additional equity and/or debt
securities of the Company, some of which could be sold to the
Company's existing security holders including without limitation
the Zell/Chilmark Fund L.P. or its affiliates or designees.  The
Company has not made any definitive decisions as to which of
these funding sources will be utilized nor as to the relative
amounts that may be obtained from such sources.  Additionally,
the Company anticipates that there will be certain dispositions
of radio stations related to the Nationwide Transaction, although
no such dispositions have yet been determined.

Credit Facilities and Other

In September 1997, a new Credit Facility replaced the June 1996
Credit Facility, resulting in expanded availability of up to
$1.15 billion.  The interest rate pricing on the Credit Facility
has been reduced to reflect the Company's improved capitalization
and current market terms.  The Credit Facility provides loans to
the Company in two components: (i) a reducing revolving credit
facility of up to $750.0 million under which the aggregate
commitments would reduce on a semi-annual basis commencing in
June 2000; and (ii) a $400.0 million amortizing term loan that
would reduce on a semi-annual basis commencing in December 1999.
Year to date, through November 1, 1997, the average interest rate
on Credit Facility borrowings was 7.68%.

<PAGE>

           JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES

                                

                                

LIQUIDITY AND CAPITAL RESOURCES, Continued

The issuance of additional debt would negatively impact the
Company's debt-toequity ratio and its results of operations and
cash flows due to higher amounts of interest expense.  Any
issuance of additional equity would lessen this impact.




RESULTS OF OPERATIONS

The Nine Months Ended September 30, 1997 Compared to the Nine
Months Ended September 30, 1996

Broadcast revenue for the first nine months of 1997 was $413.7
million, an increase of $271.5 million or 190.9% from $142.2
million during the first nine months of 1996.  This increase 
resulted primarily from the revenue generated at those properties 
owned or operated during the first nine months of 1997 but not 
during the comparable 1996 period.  On a "same station" basis - 
reflecting results from stations operated in the first nine months 
of both 1997 and 1996 - broadcast revenue for 1997 was $125.4 million, 
an increase of $14.1 million or 12.7% from $111.3 million for 1996.  This
increase resulted primarily from the growing benefits of the
Company's strategy of radio station clustering and a strong
advertising environment.

Agency commissions for the first nine months of 1997 were $44.7
million, an increase of $30.0 million or 204.1% from $14.7
million during the first nine months of 1996 due to the increase
in broadcast revenue.  On a "same station" basis, agency
commissions for the first nine months of 1997 were $13.4 million,
an increase of $1.9 million or 16.5% from $11.5 million for 1996
due to the increase in broadcast revenue.

Broadcast operating expenses for the first nine months of 1997
were $251.5 million, an increase of $159.8 million or 174.3% from
$91.7 million during the first nine months of 1996.  These
expenses increased primarily as a result of expenses incurred at
those properties owned or operated during the first nine months
of 1997 but not during the comparable 1996 period.  On a "same
station" basis, broadcast operating expenses for the first nine
months of 1997 were $79.4 million, an increase of $7.2 million or
10.0% from $72.2 million for the first nine months of 1996.  This
increase resulted primarily from increased selling  costs.

Depreciation and amortization for the first nine months of 1997
and 1996 was $53.1 million and $10.6 million, respectively.  This
increase was due to acquisitions in 1996 and the first nine
months of 1997.

Operating income for the first nine months of 1997 was $55.1
million, an increase of $34.0 million or 161.1% from an operating
income of $21.1 million for the first nine months of 1996.

Interest expense in the first nine months of 1997 was $60.1
million, an increase of $46.7 million from $13.4 million in the
first nine months of 1996.  Interest expense increased due to an
increase in outstanding debt that was incurred in connection with
acquisitions.

<PAGE>

           JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES

                                

                                

RESULTS OF OPERATIONS, Continued

The gain on the sale of assets in 1997 resulted from the sale of
the Company's investment in News Corp. Warrants in February 1997
and in Paxson Communications Corporation ("Paxson") stock in May,
1997.  The gain on the sale of assets in 1996 resulted from the
sale of two FM radio stations in Knoxville.

Income tax expense was $6.5 million for the first nine months of
1997 and income tax expense for the first nine months of 1996 was
$7.3 million.  The effective tax rate increased in the first nine
months of 1997 due to an increase in non-deductible goodwill
resulting from acquisitions.

In the first nine months of 1997 the Company recognized an
extraordinary loss of approximately $7.5 million, net of income
tax credit, related to the write off of debt financing costs.  In
the first nine months of 1996, the Company recognized an
extraordinary loss of approximately $3.0 million, net of income
tax credit, related to the write off of debt financing costs.

Net loss for the first nine months of 1997 was $5.4 million,
compared to net income of $4.7 million reported by the Company
for the first nine months of 1996.

The Three Months Ended September 30, 1997 Compared to the Three
Months Ended September 30, 1996

Broadcast revenue for the third quarter of 1997 was $161.7
million, an increase of $101.6 million or 169.1% from $60.1
million during the third quarter of 1996.  This increase resulted
primarily from the revenue generated at those properties owned or
operated during the third quarter of 1997 but not during the
comparable 1996 period.  On a "same station" basis reflecting
results from stations operated in the third quarter of both 1997
and 1996 - broadcast revenue for 1997 was $45.3 million, an
increase of $4.4 million or 10.8% from $40.9 million for 1996.
This increase resulted primarily from the growing benefits of the
Company's strategy of radio station clustering and a strong
advertising environment.

Agency commissions for the third quarter of 1997 were $17.2
million, an increase of $11.4 million or 196.6% from $5.8 million
during the third quarter of 1996 due to the increase in broadcast
revenue.  On a "same station" basis, agency commissions for the
third quarter of 1997 were $5.1 million, an increase of $0.9
million or 21.4% from $4.2 million for 1996 due to the increase
in broadcast revenue.

Broadcast operating expenses for the third quarter of 1997 were
$93.7 million, an increase of $55.4 million or 144.6% from $38.3
million during the third quarter of 1996.  These expenses
increased primarily as a result of expenses incurred at those
properties owned or operated during the third quarter of 1997 but
not during the comparable 1996 period.  On a "same station"
basis, broadcast operating expenses for the third quarter of 1997
were $27.7 million, an increase of $1.7 million or 6.5% from
$26.0 million for the third quarter of 1996.  This increase
resulted primarily from increased selling costs.

Depreciation and amortization for the third quarter of 1997 and
1996 was $21.9 million and $5.2 million, respectively.  This
increase was due to the acquisitions in the last six months of
1996 and the first nine months of 1997.

<PAGE>

           JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES
                                
                                
                                
                                
RESULTS OF OPERATIONS, Continued

Operating income for the third quarter of 1997 was $25.5 million,
an increase of $16.3 million or 177.2% from an operating income
of $9.2 million for the third quarter of 1996.

Interest expense in the third quarter of 1997 was $21.0 million,
an increase of $14.2 million from $6.8 million in the third
quarter of 1996.  Interest expense increased due to an increase
in outstanding debt that was incurred in connection with
acquisitions.

Income tax expense was $4.3 million for the third quarter of 1997
and income tax expense for the third quarter of 1996 was $3.4
million.  The effective tax rate increased in the third quarter
of 1997 due to an increase in nondeductible goodwill resulting
from acquisitions.

In the third quarter of 1997 the Company recognized an
extraordinary loss of approximately $1.9 million, net of income
tax credit, related to the writeoff of debt financing costs.  In
the third quarter of 1996 the Company recognized an extraordinary
loss of approximately $2.0 million, net of income tax credit,
related to the write-off of debt financing costs.

Net loss for the third quarter of 1997 was $1.4 million, compared
to net income of $0.1 million reported by the Company for the
third quarter of 1996.

CASH FLOWS

Cash flows provided by operating activities, inclusive of working
capital, were $31.1 million and $17.7 million for the nine months
ended September 30, 1997 and 1996, respectively.  Cash flows
provided by operating activities for the first nine months of
1997 resulted primarily from the add-back of $59.4 million of non-
cash expenses together with the add-back of $7.5 million for the
extraordinary loss net of $(10.8) million from the gain on sale
of assets together with the $(19.6) million net change in working
capital to a net loss of $(5.4) million for the period.  Cash
flows provided by operating activities for the comparable 1996
period resulted primarily from the addback of $13.8 million of
non-cash expenses together with the add-back of $3.0 million for
the extraordinary loss, net of $(2.5) million from the gain on
sale of radio stations, other costs of $(0.2) million and $(1.1)
million net change in working capital to net income of $4.7
million for the period.

<PAGE>

           JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES
                                
                                
                                
                                
CASH FLOWS, Continued

Cash flows used by investing activities were $(487.5) million and
$(836.0) million for the nine months ended September 30, 1997 and
1996, respectively. Investing activities included capital
expenditures of $(12.5) million and $(7.5) million for the first
nine months of 1997 and 1996, respectively. Investing activities
during the first three quarters of 1997 resulted primarily from
the acquisition of broadcast properties of $(542.1) million and
payment of escrow deposits of $(26.2) million, partially offset
by the proceeds from the sale of the News Corp. Warrants, Paxson
stock, and Australia's Wonderland investment of $73.8 million.
Additionally, investing activities for the first three quarters
of 1997 is net of $16.0 million of the proceeds from the like-
kind exchange of WKRQ-FM in Cincinnati, Ohio for WVOR-FM, WHAM-AM
and WHTK-AM in Rochester, New York, and proceeds from the sale of
WXZZ-FM in Lexington, Kentucky of $3.5 million.  Investing
activities during the first three quarters of 1996 included
expenditures of $(827.9) million and $(7.2) million for
acquisitions, and loans made to Noble and in connection with the
Company's JSAs and other, respectively.  Additionally, investing
activities for the 1996 period is net of $6.6 million of proceeds
from the sale of radio stations WMYU-FM and WWST-FM in Knoxville.

Cash flows provided by financing activities were $397.1 million
and $863.7 million for the nine months ended September 30, 1997
and 1996, respectively. Cash flows provided by financing
activities during the first three quarters of 1997 resulted
primarily from $150.0 million in proceeds from the issuance of 8
3/4% Senior Subordinated Notes, $247.9 million from the issuance
of common stock, and $14.5 million of net borrowings under the
credit facility, partially offset by payment of finance costs of
$(13.9) million and other of $(1.4) million.  Cash flows provided
by financing activities during the first nine months of 1996
resulted primarily from the $454.5 million in net borrowings
under the former credit facility, together with $115.2 million in
proceeds from the issuance of Liquid Yield Option Notes, $317.1
million from the issuance of common stock, $(21.3) million of
paid finance costs, and $(1.8) million of other costs.

<PAGE>

           JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES
                                
                         PART II - OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K

    (a)   Exhibits.




Number    Description                                              Page

 4.1      Effectiveness Agreement dated as of September 16,
          1997 among Jacor Communications Company ("JCC"),
          the Lenders named therein (the "Lenders"),
          the Chase Manhattan Bank, as Administrative
          Agent, Banque Paribas, as Documentation
          Agent, and Bank of America Illinois, as
          Syndication Agent (omitting schedules and
          exhibits not deemed material).  Incorporated
          by reference to Exhibit 4.1 to the Company's
          Current Report on Form 8-K dated September 30,1997.        *

 4.2      Credit Agreement dated as of June 12, 1996 as
          Amended and Restated as of February 14, 1997
          and as Further Amended and Restated as of
          September 16, 1997 among JCC, the
          Lenders, Bank of America National
          Trust and Savings Association (as
          successor by merger to Bank of
          America Illinois), as Syndication
          Agent, Banque Paribas, as
          Documentation Agent, and the Chase
          Manhattan Bank, as Administrative
          Agent (omitting schedules and
          exhibits not deemed
          material)(included as Exhibit A to
          Effectiveness Agreement) ("Restated
          Credit Agreement").  Incorporated by
          reference to Exhibit 4.2 to the Company's Current 
          Report on Form 8-K dated September 30, 1997.                *

 4.3      Parent Guarranty dated as of June 12, 1996 and as
          Amended and Restated as of September 16, 1997, by
          the Company in favor or The Chase Manhattan
          Bank, as Administrative Agent for the Agents,
          the Lenders and any Interest Rate Hedge
          Providers (each as defined in the Restated Credit 
          Agreement).  Incorporated by reference to Exhibit 4.3 
          to the Company's Current Report on Form 8-K dated
          September 30, 1997.                                         *

 4.4      Reaffirmation Agreement dated as of September 16,
          1997 between The Chase Manhattan Bank, as
          Administrative Agent for the benefit of the
          Agents, the Issuing Banks, the Lenders and
          any Interest Rate Hedge Providers (each as
          defined in the Restated Credit Agreement),
          the Company, JCC and each subsidiary of JCC.
          Incorporated by reference to Exhibit 4.4 to
          the Company's Current Report on Form 8-K dated 
          September 30, 1997.                                        * 

<PAGE>

                 JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES

                         PART II - OTHER INFORMATION










Number    Description                                               Page

 4.5      First Supplemental Indenture Dated as of
          September 16, 1997 (Supplemental to Indenture
          Dated as of June 12, 1996) between JCC, the
          Company and First Trust National Association
          for JCC's 10 1/8% Senior Subordinated Notes
          due 2006 and Jacor's Guaranty thereof.
          Incorporated by reference to Exhibit 4.5 to
          the Company's Current Report on Form 8-K
          dated September 30, 1997.                                   *

 4.6      First Supplemental Indenture Dated as of
          September 16, 1997 (Supplemental to Indenture
          Dated as of December 17, 1996) between JCC,
          the Company, the Subsidiary Guarantors named
          therein, and The Bank of New York for JCC's 9
          3/4% Senior Subordinated Notes due 2006 and the
          Company's and the Subsidiary Guarantors'
          Guaranty thereof.  Incorporated by reference
          to Exhibit 4.6 to the Company's Current Report
          on Form 8-K dated September 30, 1997.                       *

 4.7      First Supplemental Indenture Dated as of
          September 16, 1997 (Supplemental to Indenture
          Dated as of June 17, 1997) between JCC, the
          Company, the Subsidiary Guarantors named
          therein, and The Bank of New York for JCC's 8
          3/4% Senior Subordinated Notes due 2007 and
          Jacor's and the Subsidiary Guarantors' Guaranty 
          thereof.  Incorporated by reference to Exhibit 4.7 to
          the Company's Current Report on Form 8-K
          dated September 30, 1997.                                  *

  11      Computation of Consolidated Income (Loss) Per
          Common Share                                              21

  27      Financial Data Schedule                                   22



[FN]

   *      Incorporated by reference.

<PAGE>

                 JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES

                         PART II - OTHER INFORMATION








    (b)   Reports on Form 8-K

     The following Forms 8-K were filed during the third
     quarter of 1997: 

     1. Form 8-K dated August 29, 1997.  This Form 8-K described the
        Company's interest in acquiring American Radio Systems.
                              
     2. Form 8-K dated September 30, 1997.  This Form 8-K
        described the Company's amendment and restatment of its existing
        Credit Facility. This Form 8-K also described the
        Company's agreement to acquire the rights to the Dr.
        Laura Schlessinger Show from Synergy Broadcasting, Inc.
        and the assets of Multiverse Networks, L.L.C. for $71.5
        million as well as Company transactions involving the
        acquisition and disposition of radio stations.
          
          
     In addition, the following Form 8-K was filed during the
     fourth quarter of 1997:
     
     1. Form 8-K dated November 4, 1997.  This Form 8-K
        described the Company's signing of a letter of intent to purchase
        the assets of 17 radio stations from Nationwide
        Communications, Inc. and its affiliated entities for a
        purchase price of $620.0 million as well as Company
        transactions involving the acquisition and disposition
        of radio stations.

<PAGE>          

          

          

          

                          SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of
1934, Registrant has duly caused this Report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                               JACOR COMMUNICATIONS, INC.
                                      (Registrant)


DATED:  November 12, 1997      BY  /s/ R. Christopher Weber
                                   R. Christopher Weber, 
                                   Senior Vice President
                                   and Chief Financial Officer
                                   
<PAGE>
<TABLE>
                                   
                                 EXHIBIT 11

                 JACOR COMMUNICATIONS, INC. AND  SUBSIDIARIES
              Computation of Consolidated Income Per Common Share
          for the three months and nine months ended September 30, 1997
                  and 1996 (In thousands, except per share amounts)
                  
                  
<CAPTION>                  
                  
                                          Three Months Ended   Nine Months Ended
                                             September 30         September 30
                                          1997          1996   1997         1996
<S>                                    <C>           <C>       <C>       <C>     
Income (loss) for primary and
fully diluted computation:
    Income before extraordinary item    $     483    $2,100    $ 2,044    $ 7,703
    (Loss) income                       $  (1,417)   $   85    $(5,412)   $ 4,737


Primary (1.):

     Weighted average common shares
       and all other dilutive
       securities:
         Common stock                      45,362    31,250     39,007     23,499
         Stock options, Citicasters 
          warrants and Regent warrants      3,451     1,753      2,340      1,081
         Contingently issuable
            common shares                     300       300        300        300

                                           49,113    33,303     41,647     24,880

     Primary (loss) income per
       common share:

         Before extraordinary loss        $  0.01    $ 0.06     $ 0.05     $ 0.31

         Net (loss) income                $ (0.03)   $ 0.00     $(0.13)    $ 0.19


<FN>

     NOTES:

     1.   Fully diluted earnings per share is not presented
          since it approximates primary income per share.

</TABLE>