Stars/Rangers Owner TOM HICKS "has abruptly scrapped an
ambitious plan" to turn radio company Chancellor Media into
a "broader media empire," according to Carlos Tejada of the
WALL STREET JOURNAL. The company's CEO JEFFREY MARCUS
announced his resignation, and the company said that it has
"dropped plans" to acquire TV broadcaster LIN TV from Hicks'
investment group, Hicks Muse Tate & Furst. Tejada: "The new
strategy is a setback for Mr. Hicks, who envisioned a fat
stock price for a collection of television stations, radio
outlets and billboards that could attract national
advertisers" (WALL STREET JOURNAL, 3/16). Hicks replaced
Marcus as Chancellor Chair (N.Y. TIMES, 3/16).
GO PAUL: Seahawks/Blazers Owner PAUL ALLEN said he will
invest $750M for a controlling stake in Go2Net, a Seattle-
based portal start-up. The move "eventually will provide an
Internet portal to the 2.4 million subscribers served by"
Allen's cable TV companies in 21 states. The deal will
someday let "cable users click" their TV remote control to
buy a product they see advertised (SEATTLE P-I, 3/16).
