Katz Media poised to move into media ownership in the UK

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.

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

market.



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

industry.



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.’



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