Chancellor Media Corporation of Texas announced the purchase of WJMO and WZJM from Zebra Communications, along with WZAK, on August 12, 1998. Three other Cleveland radio stations were also acquired at the same time by Chancellor via simultaneous buyouts; WDOK, WQAL, and WRMR (850 AM); for $275 million. It was, at the time, the largest radio deal in Cleveland broadcasting history, and one of multiple ownership consolidation transactions spurred following passage of the Telecommunications Act of 1996. Two weeks later, Chancellor Media announced a merger with Capstar Broadcasting, then-owners of WKNR (1220 AM); when the merger cleared on July 13, 1999, the combined company was renamed AMFM Inc., at that time the nation's largest radio station owner with 465 stations.