Infinity Broadcasting Completes Purchase of KIFR-FM in San Francisco

Infinity Broadcasting Completes Purchase of KIFR-FM in San Francisco

Divestiture of Infinity's San Jose Stations to NextMedia Group, Inc. Also Finalized

NEW YORK, Dec. 7 /PRNewswire-FirstCall/ -- Infinity Broadcasting has completed its previously announced purchase of 106.9 KIFR-FM (previously known as KEAR-FM) in San Francisco from Family Stations, it was announced today by Joel Hollander, Chairman and Chief Executive Officer of Infinity. This announcement brings the total number of stations owned by Infinity in the fourth largest radio market to six, including KCBS-AM, KFRC-FM, KITS-FM, KLLC- FM and KYCY-AM.

KIFR-FM currently broadcasts Infinity's FREE FM format. Adam Carolla will headline the station's morning drive show and Penn Jillette will host a unique one-hour live radio program beginning on Tuesday, Jan. 3, 2006. Darian O'Toole, John London and Tom Leykis round-out the station's line-up.

In addition, Infinity's two San Jose radio stations, KEZR-FM and KBAY-FM, have been divested from the Company's portfolio to NextMedia Group, Inc. ("NextMedia").

"We are thrilled to complete this strategically attractive acquisition elevating Infinity's standing in the Bay area," said Hollander. "While we have recently realized great value through the divestiture of other stations, this move builds upon our presence in one of the nation's top markets -- a market where we see excellent potential for maximizing advertising revenue."

Infinity is one of the largest major-market radio operators in the United States, with stations covering news, alternative rock, country, FM talk, classic rock, oldies, JACK and urban formats, among others. A division of Viacom Inc. (NYSE: VIA; VIA.B), Infinity operates 179 radio stations, the majority of which are in the nation's top 50 markets.

Source: Infinity Broadcasting

CONTACT: Karen L. Mateo of Infinity Broadcasting, +1-212-846-7638, or
karen.mateo@infinitybroadcasting.com

Company News On-Call: http://www.prnewswire.com/comp/185007.html

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