M&A Deal Summary

Paramount Acquires American Radio Systems

On June 5, 1998, Paramount acquired media company American Radio Systems for 1.6B USD

Acquisition Highlights
  • This is Paramount’s 2nd transaction in the Media sector.
  • This is Paramount’s 3rd largest (disclosed) transaction.
  • This is Paramount’s 2nd transaction in the United States.
  • This is Paramount’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 1998-06-05
Target American Radio Systems
Sector Media
Buyer(s) Paramount
Deal Type Merger
Deal Value 1.6B USD
Advisor(s) Credit Suisse Investment Banking (Financial)

Target

American Radio Systems

Boston, Massachusetts, United States
American Radio Systems (ARS) is the fifth largest radio broadcasting company in the United States with 98 radio stations (including pending transactions) located in 19 predominately top 50 markets, including several major markets where CBS has existing radio and television stations.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Paramount

New York, New York, United States
Category Company
Founded 1986
Sector Media
Employees21,900
Revenue 29.7B USD (2023)
DESCRIPTION

Paramount is an international media company that delivers premium content to audiences across traditional and emerging platforms worldwide. Its business segments include Entertainment, Cable Networks, Publishing, and Local Broadcasting. Paramount was founded in 1986 and is based in New York City.

DEAL STATS #
Overall 2 of 12
Sector (Media) 2 of 9
Type (Merger) 1 of 2
State (Massachusetts) 1 of 1
Country (United States) 2 of 7
Year (1998) 1 of 1
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-05-26 Westinghouse Process Control Division

O'Hara Township, Pennsylvania, United States

PCD designs, manufactures and installs distributed control and information systems to the power generation, wastewater treatment, metals, chemical and other process industries worldwide.

Sell $265M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-04 CSTV Networks

New York City, New York, United States

CSTV: College Sports Television is comprised of two primary business units: College Sports TV, the fastest growing independent cable network, and College Sports Online, the number one online destination for college sports, information, scores and analysis.

Buy $325M
Mergr

Product

Company

Legal