American Radio Systems

American Radio Systems Corporation
IndustryRadio broadcasting
Founded1993; 31 years ago (1993)
FounderSteven B. Dodge
Defunct2005; 19 years ago (2005)
FateSold to CBS Corporation
SuccessorCBS Radio
Entercom
Headquarters
Boston, Massachusetts
,
USA
Area served
United States
Key people
Steven B. Dodge
ParentCBS Corporation (1997–2000)
"Original" Viacom (2000–2005)

American Radio Systems Corporation was a radio company that existed from 1993 until 1998. Its predecessor, Atlantic Ventures, was founded by Steven 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, including WRKO and WEEI 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 stations WTIC-AM and WTIC-FM for $42 million.[2]

In June 1998, American Radio Systems became a wholly owned subsidiary of CBS Corporation pursuant to a merger agreement. American Radio shareholders received $44.00 per share plus one share of American Tower common stock in a transaction valued at a then-record enterprise price of over $2.6 billion.[3]

References

  1. ^ "American Radio Systems Corporation 1995 Annual Report". Business and Significant Accounting Policies. p. 18.
  2. ^ Keveney, Bill. "WTIC Radio Stations to be Sold". The Hartford Courant. Retrieved 28 March 2019.
  3. ^ Parenti, Susan (1 March 2019). "Former ARS CEO Steve Dodge Dies". Radio Ink. Retrieved 22 March 2019.