Katz Media, the US-based sales house which owns Katz International
in the UK, is poised to move into media ownership in the UK after being
bought by the Chancellor Media Corporation.
The acquisition, which values Katz at dollars 373 million, could see the
company taking a more aggressive expansionist stance in the European
Chancellor Media has been formed by the merger of the US companies,
Chancellor Broadcasting and Evergreen Media, which between them own 98
radio stations in 21 of the largest markets in the US.
Katz Media Group is the largest media sales house in the US,
representing more than 2,000 radio stations, almost 350 TV stations and
about 1,300 cable systems. Its UK office handles advertising sales for
radio stations, such as the forthcoming Xfm in London, Century Radio in
the North-east, the Radio Partnership’s eight stations and the
Independent Radio Group’s six stations. It also represents cable
stations such as Knowledge TV and airtime sales for the London
Interconnect Group of cable operators.
Katz will retain its name, independence and management team and is now
set to expand into Europe with a fresh injection of investment. The UK
office may now be used as a springboard for Chancellor to look at media
acquisitions in the UK and Europe, particularly in the radio
Simon Lynds, the chief executive of Katz International, said: ’Katz
Media Group was always going to expand its interests and the partnership
of Katz and Chancellor Media bodes well for the media industry.’