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Clear Channel Buys Jacor in $4.4 Bil. Deal
NEW YORK--In a move that surprised most radio insiders, Clear Channel Communications of San Antonio last Thursday said it purchased middle-market dominator Jacor Communications for $4.4 billion in stock. The combination of Clear Channel, the fourth-largest radio company, and Jacor, No. 3 in the nation, makes a media goliath with outdoor, radio and television properties. The enlarged Clear Channel, in which Jacor will operate as a subsidiary, is now the third-largest radio company in revenue, behind CBS and Chancellor Media. The company ranks second in number of stations owned, with 454 outlets in 101 U.S. markets.
Maxfield Forms International Joint Venture
DALLAS--The Maxfield Group in Irving, Texas, has established a joint venture with an agency in Milan, Italy, to provide international business-to-business marketing support for clients like Wilsonart and Electronic Data Systems. Maxfield president and chief executive officer Steve Maxfield said the new entity, The Maxfield Group BN&P Europe, will coordinate activities for Maxfield clients in Europe while Maxfield's Irving office will provide domestic support for BN&P's overseas clients.
Match, Crispin Join Chupa Chups Review
ATLANTA--Two more agencies have emerged as contenders for the $10 million Chupa Chups USA business. Sources said Match in Atlanta and Crispin Porter & Bogusky in Miami will compete against Ground Zero, Santa Monica, Calif.; Fallon McElligott, Minneapolis; GSD&M, Austin, Texas; The Richards Group, Dallas; and New York's TBWA/Chiat/Day and Weiss, Whitten, Stagliano. The ad account is currently at Lois/EJL in Chicago. In addition to its Chupa Chups lollipops, the Atlanta-based confectioner also sells Pop Rocks and Smint breath mints.
University of Houston Screens Contenders
DALLAS--Six undisclosed shops are competing to become the first agency of record for the University of Houston, a school official confirmed last week. UofH representative Wendy Adair would not identify contenders but said three finalists will be selected. A decision is likely in January. Adair said the winning agency will assist in raising funds to support the ad campaign and would be compensated for its efforts.
NCAA Football Plays 'Pass It On' in PSAs
DALLAS--NCAA Football, the Dallas-based marketing organization of college football, has launched promotional PSAs with a new "Pass it on" tagline. The new ads were produced in-house, as opposed to a 1997 campaign that utilized DDB Needham Dallas. NCAA Football is a not-for-profit group backed by the National Collegiate Athletic Association, the American Football Coaches Association, the National Association of Collegiate Directors of Athletics and the Collegiate Commissioners Association.