LBJS Broadcasting Co., L.P.

LBJS Broadcasting Co., L.P., comprised of five of Austin's radio stations, was formed in July, 1997, when LBJ Broadcasting Co. (KLBJ-FM, KLBJ-AM, and KAJZ-FM) merged with Sinclair Telecable (KGSR-FM, and KROX-FM). The merger created Austin's largest radio organization: the estimated value of the new company was $80 million with projected annual sales of $18 million to $20 million. At the time of the merger, LBJ Holding Co. owned two thirds of the partnership; and Sinclair owned the remaining one third.