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| Industry | Radio broadcasting |
|---|---|
| Founded | 1993; 32 years ago (1993) |
| Founder | Steven B. Dodge |
| Defunct | 2005; 20 years ago (2005) |
| Fate | Sold to Westinghouse |
| Successor | CBS Radio Entercom |
| Headquarters | , |
Area served | United States |
Key people | Steven B. Dodge |
| Parent | CBS Corporation (1997–2000) Viacom (2000–2005) |
American Radio Systems Corporation was a radio company that existed from 1993 until 1998. Its predecessor, Atlantic Ventures, was founded bySteven B. Dodge, Eric Schultz, Joseph Winn, and Michael Milsom. American Radio Systems was formed from the merger of Atlantic Ventures, which owned four Boston radio stations, includingWRKO andWEEI with Multi Market Communications, Inc. and Stoner Broadcasting System Holding, Inc., on November 1, 1993.[1]
On August 14, 1995, American Radio Systems announced plans to acquire Hartford radio stationsWTIC-AM andWTIC-FM for $42 million.[2]
In June 1998, American Radio Systems became a wholly owned subsidiary ofWestinghouse pursuant to a merger agreement. American Radio shareholders received $44.00 per share plus one share ofAmerican Tower common stock in a transaction valued at a then-record enterprise price of over $2.6 billion.[3][4]