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JACOR COMMUNICATIONS CEO EXPRESSES INTEREST IN BUYING REDS
Published May 6, 1998
Jacor Communications CEO Randy Michaels said Tuesday night that his OH-based media conglomerate "is exploring the possibility of buying the Reds," according to Geoff Hobson of the CINCINNATI ENQUIRER. Michaels: "We don't know what [Reds Owner Marge] Schott plans to do, but of course it interests us. This is all in the preliminary stages but we're certainly looking at it." Jacor owns 5% of the Rockies and would have to sell that stake before purchasing an interest in another club (CINCINNATI ENQUIRER, 5/6). NOTES: The Cincinnati City Council "is poised today to approve" a $20M incentive package "to lure the Reds to the Broadway Commons ballpark site, despite hearing that the team and Hamilton County aren't even talking about the site" (Lucy May, CINCINNATI ENQUIRER, 5/6)....Columnist Bill Koch wrote an open letter to Schott asking her to sell the team: "Don't do it for them [other MLB owners]. Do it for yourself. The organization is at a crossroads. It needs new blood. ... It's a good time for you to cash in and let someone else deal with the headaches. Sell your control of the partnership. Keep a share as a limited partner if you prefer to keep your hand in it" (CINCINNATI POST, 5/5).