Jacor: Premiere Merger Finalized

News from Jacor Communications... JACOR COMPLETES ACQUISITION OF PREMIERE RADIO
NETWORKS, INC.

FOR IMMEDIATE RELEASE

COVINGTON, KY., June 12, 1997: Jacor Communications, Inc. (NASDAQ: JCOR)
announced today that it has completed the acquisition of all outstanding shares
and equivalents of Premiere Radio Networks, Inc. (NASDAQ: PRNI and PRNIA)  for
approximately $190 million in cash and stock.  In the merger between Premiere
and a subsidiary of Jacor, each share of Premiere stock was converted into
$13.50 in cash, and approximately 0.138 of a share of Jacor common stock, for a
total value as of the acquisition date of about $18.75 per Premiere share. 
Jacor issued a total of approximately 1.4 million shares to complete the
acquisition. 

Premiere is the largest syndicator of comedy radio programming in the United
States and is the leading creator, producer and distributor of innovative
entertainment and music radio programs, research and other services.  Premiere
produces 52 syndicated programs and services and has over 6,300 contracts with
more than 4,000 affiliate radio stations to broadcast its programming and to
use its services. 

Jacor CEO Randy Michaels said, "Jacor's goal is to be a fully integrated radio
company, with strong stations, high quality, difficult to duplicate programming
and state of the art distribution capabilities.  Premiere is a significant
partner in moving us toward that goal. Premiere has a wide array of successful
programming that is already in place in radio stations throughout the country,
including many Jacor stations.  Premiere brings leading radio names such as
Leeza Gibbons, Jim Rome and Michael Reagan to the Jacor programming menu.  The
cultures of Premiere and Jacor are a natural fit and we are very pleased to
welcome Steve Lehman and his highly creative staff to the Jacor team." 

Steve Lehman, Premiere's President and Chief Executive Officer, echoed
Michaels' feelings: "Over the last few months the Premiere team has already had
several opportunities to meet and work with Jacor management and we couldn't be
happier.  The fit is perfect, both operationally and culturally.  Together
Jacor and Premiere will create a major force in the radio industry."

Jacor is the nation's third largest radio group measured by total revenues. 
Including announced pending acquisitions, Jacor owns,
operates, or represents approximately 149 radio stations in 32 U.S. broadcast
areas. In addition to Premiere, Jacor owns EFM, the syndicator for top radio
personality Rush Limbaugh. Jacor also owns a satellite distribution service,
NSN, which provides bi-directional communication among multiple networks.  
Jacor plans to pursue growth through continued acquisitions of complementary
radio stations in its existing broadcast locations, and radio groups or
individual stations with significant presence in other attractive locations.
Additionally, Jacor will grow in other broadcast-related products and
businesses.


For further information, contact:
Pam Taylor
Corporate Communications
606.655.6523


Ends.