Programming Newsline

Web Catches Chancellor. After courting such Internet giants as AOL, Chancellor Media has instead opted to reposition itself and go it alone for the time being. It will also change its name to AMFM Inc., matching the company's Nasdaq symbol, although the company will apply to join the New York Stock Exchange, under the AFM symbol. Chancellor/AMFM also becomes the first major traditional broadcasting company to announce specific plans to enter the growing field of Web-based radio services. AMFM will form three new business units aimed at leveraging the company's radio portfolio (see story, page 1).
S&P Hits CD Radio. Standard & Poor's has revised its rating outlook on CD Radio to negative, as it is worried about rising costs of building the satellite-delivered radio service, delays in its launch, marketing costs, and public acceptance. "CD Radio is spending heavily to develop an unproven media service to compete with conventional broadcast radio," said S&P analysts.
IBOC Proposal Nears. The Federal Communications Commission says it will offer its proposal for how to convert the industry to in-band, on-channel digital radio sometime this summer. It has also extended the deadline for comments on its low-power FM proposal to Aug. 2, as requested by the National Assn. of Broadcasters, which says its engineers are still studying its impact on existing stations.