Why Hicks Muse Put Chancellor Media On The Block

The two keys: Soaring debt and corporate infighting

When Chancellor Media Corp. put itself up for sale on Jan. 20, Wall Street was stunned. After all, Chancellor had only burst on the scene last year, gobbling up radio stations across the country as well as billboard-advertising and TV outlets. Had Dallas-based buyout firm Hicks Muse Tate & Furst Inc., the driving force behind Chancellor, lost faith in its biggest media play?

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