Jacor: TO ACQUIRE NATIONWIDE COMMUNICATIONS


Contact:        Jacor Communications
                Pam Taylor
                606.655.6523

                Nationwide Communications, Inc.
                Jeff Botti
                614.249.6339

FOR IMMEDIATE RELEASE

        JACOR TO ACQUIRE NATIONWIDE COMMUNICATIONS FOR $620 MILLION
Proposed Transaction Includes 17 Radio Stations in Eight Attractive Markets 

COVINGTON, KY., October 27, 1997:  Jacor Communications, Inc. (JCOR: Nasdaq)
has  signed a letter of intent to purchase the assets of Nationwide
Communication's 17 radio stations for $620 million. The agreement follows
Columbus-based Nationwide Mutual Insurance Company's recent decision to sell
the radio group.

Nationwide operates radio stations in eight attractive, high growth markets
that have little overlap with Jacor's existing portfolio.  Five of 
Nationwide's broadcast areas signal new markets for Jacor.  They include:

* Dallas -      KEGL-FM, KDMX-FM
* Houston -     KHMX-FM, KTBZ-FM
* Minneapolis - KMJZ-FM, KSGS-AM
* Phoenix -     KGLQ-FM, KZZP-FM
* Baltimore -   WPOC-FM

Nationwide also operates stations in three existing Jacor markets:

* San Diego -   KMCG-FM, KXGL-FM
* Cleveland -   WMMS-FM, WGAR-FM, WMJI-FM
* Columbus -    WCOL-FM, WNCI-FM, WFII-AM

"This was worth the wait," said Jacor CEO Randy Michaels after the agreement
was reached.  "Nationwide hits the mark on all fronts for Jacor.  The economic
return exceeds our hurdle rate and is consistent with our high standards for
capital investment. The new broadcast areas give us a strong foundation to
begin building regional clusters and continue our geographic expansion.
Nationwide management has done a tremendous job assembling high quality signals
in strategically placed markets.  With our expertise in developing stick
properties and our strong presence across many of these broadcast areas Jacor
is ready to take the Nationwide stations to the next level."

NCI President Steve Berger commented, "We're pleased to have Jacor as a partner
in this transaction although it will be difficult to leave Nationwide.  We
recognize, however, that the industry is changing and the stations need to be
on the leading edge of that change in order to grow.  Under the Jacor umbrella,
the Nationwide stations will share in the benefits of Jacor's regional cluster
strategy."

"This agreement is part of an overall strategy by Nationwide to focus resources
on its core businesses of insurance and financial services," said Robert A.
Oakley, Executive Vice President and Chief Financial Officer of the Nationwide
Insurance Enterprise.  "The strong market for broadcast properties today will
enable Nationwide to make a significant contribution to its fundamental
businesses."

Added Robert J. Woodward, Executive Vice President and Chief Investment Officer
for the Enterprise, "NCI has been an excellent investment for Nationwide and
the broadcast industry realizes the tremendous value of NCI's radio properties.
NCI is strong, not only financially but also in its people who entertain their
audiences and serve their communities well.  They truly have lived by NCI's
motto, 'Only the best people.'"

According to "Who Owns What," Nationwide is the 16th largest radio group in the
United States with estimated 1997 revenues of $96.5 million. Nationwide
Communications Inc. was founded in 1946 and has operated under the ownership of
Nationwide Mutual Insurance Company of Columbus, Ohio.

This transaction is subject to a regulatory review.  Gary Stevens & Co. acted
as the broker for Nationwide Communications.

Jacor is the nation's third largest radio group measured by total revenues.
Prior to the Nationwide Communications acquisition and including announced
pending acquisitions Jacor owns, operates, or represents 172 radio stations in
36 U.S. broadcast areas, and WKRC-TV in Cincinnati.  Additionally, Jacor is the
country's third largest provider of syndicated radio programming through
Radio-Active Media (formerly EFM), the syndicator for top radio personalities
Rush Limbaugh and Dr. Dean Edell, and Premiere Radio Networks, the Los Angeles
based syndicator of The Dr. Laura Schlessinger Show and creator of comedy
clips, jingles and other programming and research products.  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 has plans to grow
in other broadcast-related products and businesses.

NCI and Nationwide Mutual are units of the Nationwide Insurance Enterprise, a
Fortune 50 organization based on assets of $77 billion.  The Enterprise is a
leading provider of property-casualty insurance and financial and commercial
services.

Visit www.cfonews.com/jcor/ for more information on Jacor.


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