Infinity Broadcasting Corporation
Encyclopedia
Infinity Broadcasting Corporation was a radio company that existed from 1972 until 2005. It was founded by Michael A. Wiener
and Gerald Carrus. It became associated with popular radio personalities like Howard Stern
, Don Imus
and Mike Francesa
. Infinity merged with CBS Corporation
in 1997 and later became part of Viacom in 2000, when CBS and Viacom merged. After the Viacom split in 2005, Infinity changed its name to CBS Radio
.
executives Michael A. Wiener
and Gerald Carrus, with the acquisition of KOME
, an FM radio station that served the San Francisco Bay Area
, and finally received its license by the Federal Communications Commission
(FCC) a year later. In 1979, Infinity acquired WBCN in Boston
.
In 1981, Mel Karmazin
was bought in as new president. Karmazin oversaw the operation of New York's WNEW-AM (now WBBR
) and WNEW-FM (now WWFS) for Metromedia
. Soon after, the company acquired fellow New York stations WNEW-FM, WKTU (now WXRK), WZRC
, and WFAN
the following years, followed by WYSP-FM in Philadelphia. In 1983, Infinity absorbed KXYZ in Houston and WJMK-FM and WJJD
in Chicago
.
Infinity became a publicly traded company in 1986. Within a year, it had purchased six more stations: KROQ-FM
in Los Angeles
, WJFK-FM
in Washington, D.C.
, WQYK-AM
/FM
in Tampa, and KVIL-AM
/FM
in Dallas.
The company reverted back to a private company in the late 1980s, but it became a public company again in 1992. In 1993, Infinity was expanded to 22 radio stations.
, which loosened ownership restrictions of broadcast stations, Infinity was able to quickly acquire more stations, owning over 75 at the time of the merger with
In 1997, it was announced that Westinghouse Electric Corporation (which owned CBS
) would acquire Infinity Broadcasting. Karmazin had attempted to acquire CBS, but Michael Jordan, CEO of Westinghouse, refused to sell the firm to Karmazin but instead agreed to buy Infinity. The $4.9 billion deal was completed on December 31, 1996. As a result of the Westinghouse purchase, Infinity was merged into the CBS Radio Group, with Karmazin as president. Karmazin soon became chairman and CEO of CBS Radio, and took the control of the CBS television network.
Shortly after, Westinghouse sold its non-broadcasting assets and renamed itself as CBS Corporation
. In 1998, CBS decided to spun off a portion of its radio and outdoor advertising holdings as Infinity Broadcasting Corp., once again bringing the Infinity name back to the public. The stock offering was the largest in the media industry at the time and raised $2.87 billion.
The most significant move during 1999, however, was the deal struck with Viacom in September. Sumner Redstone
, CEO of Viacom, shot down Karmazin's offer to buy Viacom. Karmazin then offered CBS to Redstone, who eventually made a $37 billion proposal to merge the two companies together. Viacom completed the CBS Corp. purchase in May 2000, and it retained 80% ownership of Infinity. At that same year, Infinity acquired Outdoor Systems and renamed it Infinity Outdoor.
Under the new ownership by Viacom, Infinity acquired 18 radio stations from its competitor, Clear Channel Communications
, which needed to divest them as part of its own merger with AMFM Incorporated. The company also purchased Giraudy SA, an outdoor advertising company based in France. In 2002, Viacom acquired the remaining shares of Infinity that it did not already own, making it a wholly owned subsidiary. At that time, Infinity Outdoor was separated from Infinity Broadcasting and renamed Viacom Outdoor.
On December 14, 2005, Infinity Broadcasting reverted back to CBS Radio
, and joined with the CBS and UPN
networks, Paramount's television properties, Showtime Networks
, Viacom Outdoor, Simon & Schuster
, and Paramount Parks
into a revived CBS Corporation. At that time, CBS Corp. spun off the "new" Viacom
, which includes MTV Networks
, BET
, and Paramount Pictures
, among other assets.
Michael A. Wiener
Michael A. Wiener was an American business executive who was one of the two founders of the Infinity Broadcasting Corporation in 1972, ran the company as president and chairman, and became a philanthropist after selling the business and its 44 radio stations to Westinghouse Corporation in 1996 for...
and Gerald Carrus. It became associated with popular radio personalities like Howard Stern
Howard Stern
Howard Allan Stern is an American radio personality, television host, author, and actor best known for his radio show, which was nationally syndicated from 1986 to 2005. He gained wide recognition in the 1990s where he was labeled a "shock jock" for his outspoken and sometimes controversial style...
, Don Imus
Don Imus
John Donald "Don" Imus, Jr. is an American radio host, humorist, philanthropist and writer. His nationally-syndicated talk show, Imus in the Morning, is broadcast throughout the United States by Citadel Media and relayed on television by the Fox Business Network.-Personal life:Imus was born in...
and Mike Francesa
Mike Francesa
Michael Patrick "Mike" Francesa, Jr. is an American radio talk show host and television commentator. He is primarily known in his former role co-hosting the popular Mike and the Mad Dog show on WFAN in New York City...
. Infinity merged with CBS Corporation
CBS Corporation
CBS Corporation is an American media conglomerate focused on commercial broadcasting, publishing, billboards and television production, with most of its operations in the United States. The President and CEO of the company is Leslie Moonves. Sumner Redstone, owner of National Amusements, is CBS's...
in 1997 and later became part of Viacom in 2000, when CBS and Viacom merged. After the Viacom split in 2005, Infinity changed its name to CBS Radio
CBS Radio
CBS Radio, Inc., formerly known as Infinity Broadcasting Corporation, is one of the largest owners and operators of radio stations in the United States, third behind main rival Clear Channel Communications and Cumulus Media. CBS Radio owns around 130 radio stations across the country...
.
Formation and pre-merger
Infinity was founded in 1972 by two former MetromediaMetromedia
Metromedia was a media company that owned radio and television stations in the United States from 1956 to 1986 and owned Orion Pictures from 1986-1997.- Overview :...
executives Michael A. Wiener
Michael A. Wiener
Michael A. Wiener was an American business executive who was one of the two founders of the Infinity Broadcasting Corporation in 1972, ran the company as president and chairman, and became a philanthropist after selling the business and its 44 radio stations to Westinghouse Corporation in 1996 for...
and Gerald Carrus, with the acquisition of KOME
KOME
KOME was a radio station in San Jose, California, heard at 98.5 FM from 1971 thru 1998. Currently, the 98.5 FM frequency is home to KUFX .-Beginnings:...
, an FM radio station that served the San Francisco Bay Area
San Francisco Bay Area
The San Francisco Bay Area, commonly known as the Bay Area, is a populated region that surrounds the San Francisco and San Pablo estuaries in Northern California. The region encompasses metropolitan areas of San Francisco, Oakland, and San Jose, along with smaller urban and rural areas...
, and finally received its license by the Federal Communications Commission
Federal Communications Commission
The Federal Communications Commission is an independent agency of the United States government, created, Congressional statute , and with the majority of its commissioners appointed by the current President. The FCC works towards six goals in the areas of broadband, competition, the spectrum, the...
(FCC) a year later. In 1979, Infinity acquired WBCN in Boston
Boston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...
.
In 1981, Mel Karmazin
Mel Karmazin
Melvin Alan "Mel" Karmazin is an American executive. He co-founded and was the president of Infinity Broadcasting and eventually became the president and chief executive officer of CBS. As of 2008, he is the CEO of Sirius XM Radio....
was bought in as new president. Karmazin oversaw the operation of New York's WNEW-AM (now WBBR
WBBR
WBBR is a radio station broadcasting at 1130 AM in New York City. It airs Bloomberg Radio, a service of Bloomberg L.P. WBBR's format is general and financial news, offering local, national and international news reports along with financial market updates and interviews with corporate executives,...
) and WNEW-FM (now WWFS) for Metromedia
Metromedia
Metromedia was a media company that owned radio and television stations in the United States from 1956 to 1986 and owned Orion Pictures from 1986-1997.- Overview :...
. Soon after, the company acquired fellow New York stations WNEW-FM, WKTU (now WXRK), WZRC
WZRC
WZRC, on 1480 kHz, is a radio station owned by Multicultural Radio Broadcasting, Inc. and serves the New York City area by running Cantonese program.-Formation and the early years:...
, and WFAN
WFAN
WFAN , also known as "Sports Radio 66" or "The FAN", is a radio station in New York City. The station broadcasts on a clear channel and is owned by CBS Radio...
the following years, followed by WYSP-FM in Philadelphia. In 1983, Infinity absorbed KXYZ in Houston and WJMK-FM and WJJD
WYLL
WYLL 1160 is a "Christian Talk & Teaching" radio station located in Chicago and owned by Salem Communications. The station runs features, preaching, and other religious programs. Ministries may also buy time for programming. WYLL additionally produces a couple hours of local call-in shows every...
in Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
.
Infinity became a publicly traded company in 1986. Within a year, it had purchased six more stations: KROQ-FM
KROQ-FM
KROQ-FM — branded 106.7 KROQ — is a commercial modern rock radio station licensed to Pasadena, California serving the Greater Los Angeles. The call sign is pronounced "kay rock." It is the flagship station of Loveline hosted by Dr...
in Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
, WJFK-FM
WJFK-FM
WJFK-FM, known on-air as 106.7 The Fan, is a sports radio-formatted broadcast radio station licensed to Manassas, Virginia, serving the metro Washington DC area...
in Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
, WQYK-AM
WQYK (AM)
WQYK " is a radio station in the Tampa, Florida area, owned by CBS Radio. The station broadcasts at 50,000 watts during the day and 5,000 watts at night, directional towards the east and west to protect Jacksonville's WJXL by day, and New York City's WINS, Toronto's CFRB, and Calgary, Alberta's CBR...
/FM
WQYK-FM
WQYK-FM is a commercial country music radio station in Tampa, Florida. It is currently under ownership of CBS Radio.-External links:*...
in Tampa, and KVIL-AM
KVCE
KVCE is a radio station in Highland Park, Texas that services the Dallas/Fort Worth Metroplex. The station is currently owned by Dallas Broadcasting, LLC....
/FM
KVIL-FM
KVIL is a radio station broadcasting in the Dallas/Fort Worth market in Texas. The station has featured a very popular adult contemporary music format for nearly forty years...
in Dallas.
The company reverted back to a private company in the late 1980s, but it became a public company again in 1992. In 1993, Infinity was expanded to 22 radio stations.
Merger with CBS and Viacom
As a result of the Telecommunications Act of 1996Telecommunications Act of 1996
The Telecommunications Act of 1996 was the first major overhaul of United States telecommunications law in nearly 62 years, amending the Communications Act of 1934. This Act, signed by President Bill Clinton, was a major stepping stone towards the future of telecommunications, since this was the...
, which loosened ownership restrictions of broadcast stations, Infinity was able to quickly acquire more stations, owning over 75 at the time of the merger with
In 1997, it was announced that Westinghouse Electric Corporation (which owned CBS
CBS
CBS Broadcasting Inc. is a major US commercial broadcasting television network, which started as a radio network. The name is derived from the initials of the network's former name, Columbia Broadcasting System. The network is sometimes referred to as the "Eye Network" in reference to the shape of...
) would acquire Infinity Broadcasting. Karmazin had attempted to acquire CBS, but Michael Jordan, CEO of Westinghouse, refused to sell the firm to Karmazin but instead agreed to buy Infinity. The $4.9 billion deal was completed on December 31, 1996. As a result of the Westinghouse purchase, Infinity was merged into the CBS Radio Group, with Karmazin as president. Karmazin soon became chairman and CEO of CBS Radio, and took the control of the CBS television network.
Shortly after, Westinghouse sold its non-broadcasting assets and renamed itself as CBS Corporation
CBS Corporation
CBS Corporation is an American media conglomerate focused on commercial broadcasting, publishing, billboards and television production, with most of its operations in the United States. The President and CEO of the company is Leslie Moonves. Sumner Redstone, owner of National Amusements, is CBS's...
. In 1998, CBS decided to spun off a portion of its radio and outdoor advertising holdings as Infinity Broadcasting Corp., once again bringing the Infinity name back to the public. The stock offering was the largest in the media industry at the time and raised $2.87 billion.
The most significant move during 1999, however, was the deal struck with Viacom in September. Sumner Redstone
Sumner Redstone
Sumner Murray Redstone is an American media magnate. He is the majority owner and Chairman of the Board of the National Amusements theater chain...
, CEO of Viacom, shot down Karmazin's offer to buy Viacom. Karmazin then offered CBS to Redstone, who eventually made a $37 billion proposal to merge the two companies together. Viacom completed the CBS Corp. purchase in May 2000, and it retained 80% ownership of Infinity. At that same year, Infinity acquired Outdoor Systems and renamed it Infinity Outdoor.
Under the new ownership by Viacom, Infinity acquired 18 radio stations from its competitor, Clear Channel Communications
Clear Channel Communications
Clear Channel Communications, Inc. is an American media conglomerate company headquartered in San Antonio, Texas. It was founded in 1972 by Lowry Mays and Red McCombs, and was taken private by Bain Capital LLC and Thomas H. Lee Partners LP in a leveraged buyout in 2008...
, which needed to divest them as part of its own merger with AMFM Incorporated. The company also purchased Giraudy SA, an outdoor advertising company based in France. In 2002, Viacom acquired the remaining shares of Infinity that it did not already own, making it a wholly owned subsidiary. At that time, Infinity Outdoor was separated from Infinity Broadcasting and renamed Viacom Outdoor.
Departure of Mel Karmazin and Epilogue
Karmazin resigned on May 2004, due to many differences with Redstone. Karmazin later said he didn't get along with Redstone and found it difficult to be "No. 2" at a company, but particularly under Redstone. The two executives continued to snipe at each other through the media even a year after Karmazin left Viacom.On December 14, 2005, Infinity Broadcasting reverted back to CBS Radio
CBS Radio
CBS Radio, Inc., formerly known as Infinity Broadcasting Corporation, is one of the largest owners and operators of radio stations in the United States, third behind main rival Clear Channel Communications and Cumulus Media. CBS Radio owns around 130 radio stations across the country...
, and joined with the CBS and UPN
UPN
United Paramount Network was a television network that was broadcast in over 200 markets in the United States from 1995 to 2006. UPN was originally owned by Viacom/Paramount and Chris-Craft Industries, the former of which, through the Paramount Television Group, produced most of the network's...
networks, Paramount's television properties, Showtime Networks
Showtime Networks
Showtime Networks, Inc. is the corporate division of media conglomerate CBS Corporation.The company was established in 1983 as Showtime/The Movie Channel, Inc. after Viacom and Warner-Amex Satellite Entertainment merged their premium channels, Showtime and The Movie Channel respectively, into one...
, Viacom Outdoor, Simon & Schuster
Simon & Schuster
Simon & Schuster, Inc., a division of CBS Corporation, is a publisher founded in New York City in 1924 by Richard L. Simon and M. Lincoln Schuster. It is one of the four largest English-language publishers, alongside Random House, Penguin and HarperCollins...
, and Paramount Parks
Paramount Parks
Paramount Parks was an operator of theme parks and attractions, which annually attracted about 13 million patrons. Viacom had assumed control of the company as part of its acquisition of Paramount Pictures in 1994....
into a revived CBS Corporation. At that time, CBS Corp. spun off the "new" Viacom
Viacom
Viacom Inc. , short for "Video & Audio Communications", is an American media conglomerate with interests primarily in, but not limited to, cinema and cable television...
, which includes MTV Networks
MTV Networks
MTV Networks is a division of media conglomerate Viacom that oversees the operations of many television channels and Internet brands, including the original MTV channel in the United States...
, BET
Black Entertainment Television
Black Entertainment Television is an American, Viacom-owned cable network based in Washington, D.C.. Currently viewed in more than 90 million homes worldwide, it is the most prominent television network targeting young Black-American audiences. The network was launched on January 25, 1980, by its...
, and Paramount Pictures
Paramount Pictures
Paramount Pictures Corporation is an American film production and distribution company, located at 5555 Melrose Avenue in Hollywood. Founded in 1912 and currently owned by media conglomerate Viacom, it is America's oldest existing film studio; it is also the last major film studio still...
, among other assets.