Jacor
From Wikipedia, the free encyclopedia
Jacor Communications, Inc. was a media corporation which owned a large number of radio stations in the United States. Jacor was acquired by Clear Channel Communications in May 1999.
Jacor was named after its founder Terry Jacobs. Jacobs started the group with small religious stations. Jacobs left the company in May 1993 after the takeover by Sam Zell's Zell Chillmark fund.
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[edit] Jacor Executives
Sam Zell (Chairman)
Terry S. Jacobs (Founder and CEO from early 80's through 1993)
Randy Michaels (VP Programming & co-COO 1986-1993 / President 1993-1996 / CEO 1996-1999)
Frank Wood (President 1986-1989)
Bobby Lawrence (co-COO 1986-1996 / President 1996-1999)
David Crowl (President of Radio Division 1996-1999 / Now SVP for Clear Channel)
Tom Owens (SVP Programming 1994-1999 / Now EVP Programming for Clear Channel)
Chris Weber (CFO 1987-1999 / Retired)
John Hogan (SVP 1996-1999 / Now CEO of Clear Channel Radio)
Marc Chase (SVP Programming until 2008 / Now President of Tribune Interactive)
[edit] Growth
In 1992 Jacor was one of the first broadcasters to take advantage of duopoly rules allowing stations to own or operate 2AM's and 2FM's per market. Up until that time broadcasters could only own 1AM and 1FM per market. One of the first duopoly acquisitions was WKRC Radio in Cincinnati. From 1992-1994 WKRC operated as WLWA, a female version of male driven 700WLW. In February of 1996, with the passing of the telcom bill, Jacor went on a radio shopping spree.
Jacor acquired Noble Broadcasting days after the telecom bill was passed, 10 days later Jacor purchased Citicasters radio and television. In 1997 Jacor acquired the assets of Nationwide Communications. These acquisitions made Jacor the third-largest radio company when it was acquired by Clear Channel for 4.4 billion dollars in 1999. When bought out by Clear Channel, Jacor owned 230 radio stations in 55 markets. Jacor also owned Premiere Radio networks, producers of The Rush Limbaugh Show and the Dr. Laura Schlessinger show. Jacor also owned WKRC-TV 12 in Cincinnati (CBS affiliate).
Inside the radio industry Jacor was seen as one of the most competitive broadcast companies in history. Jacor's re-image in 1996 created the slogan "The Noise You Can't Ignore".
Jacor was owned (1992-1999) by Sam Zell's Zell Chillmark fund. In May of 1993 founder and CEO Terry Jacobs left Jacor and VP Programming and COO Randy Michaels was named President of the company, in 1996 he was promoted to CEO. In 1999 Zell decided to exit radio and his interest in Jacor. A bidding war between CBS Radio and Clear Channel Communications began with Clear Channel prevailing with a 4.4 billion dollar price. Clear Channel named Michaels CEO and enjoyed several years of continued growth and success reaching 1200 domestic radio properties. Michaels now owns and operates a television group and Clear Channel has been sold to a group of private equity investors.
The Jacor name is retired from broadcasting. For many years in the late 80's and throughout the 90's Jacor's perception in the radio industry was well regarded among radio listeners and broadcasting peers. In most markets where Jacor competed they had the #1 and in the case of Denver, Cincinnati, and Tampa were often ranked 1st and 2nd with their AM/FM combos. In the 90's Jacor's first entry into a major market was Gannett's KIIS-AM/FM in Los Angeles. Jacor quickly improved ratings at KIIS-FM and turned the AM from a 5000 watt unknown to a successful AM sports station that for several years was the flagship station for the Dodgers baseball games.
Jacor's corporate headquarters were at 201 E. 5th Street (13th floor) in downtown Cincinnati from the mid 80's through 1996.
In December of 1996 Jacor moved its headquarters across the Ohio River to 50 E. Rivercenter Blvd (12th and 14th floor) in Covington KY.
[edit] Jacor TV
Jacor also operated WKRC-TV (CBS affiliate) in Cincinnati, Ohio and for a short time WTSP-TV (CBS affiliate) in Tampa, Florida. In the 80's Jacor also owned Telesat Cable, a Northern Kentucky cable provider.
