Company Description: Shamrock Broadcasting, Inc. (“SBI”) was the second largest "pure play" radio company in the country with 22 radio stations in top 20 markets including New York , Los Angeles and San Francisco at the time of sale in 1996.
Transaction: Shamrock acquired the foundation of its broadcasting group in 1979 with the purchase of various broadcasting related assets, principally radio and television stations. Through the 1980's SBI grew both organically and by asset acquisition. In 1993, Shamrock acquired nine radio stations from Malrite Communication Radio Group in a tax-free spin-off and merger transaction valued at approximately $300 million.
Status: In 1996, SBI was sold to Chancellor Broadcasting for $400 million, realizing $275 million in profit.
