On July 20, Clear Channel and AMFM agreed under government pressure to sell 99 radio stations in 27 markets, the largest radio divestiture ever. So far, the companies have sold 85 of the stations. Yesterday's agreement with the Justice Department requires them to sell the remaining 14 stations, located in five markets, within 150 days.
None is in Kentucky.
After merging with AMFM, San Antonio-based Clear Channel will be the largest U.S. radio broadcaster, owning or operating about 900 stations, the department said. Lamar Advertising Co. That step was taken to resolve the government's concerns that the original deal would have meant radio and billboard advertisers would be charged higher prices and receive lower-quality service. If approved by the court, the agreement would settle a lawsuit the government filed simultaneously yesterday to block the original deal. Assistant Attorney General A. Douglas Melamed of the department's antitrust division. E-mail this story to a friend.