$2.7B Deal would put Disney Radio unit in Citadel's Hands

[SOURCE: USAToday, AUTHOR: David Lieberman]
Disney agreed Monday to turn its 22 radio stations and ABC Radio Networks over to Citadel Broadcasting in a deal valued at $2.7 billion. Disney will keep ESPN Radio and Radio Disney. If antitrust officials and the Federal Communications Commission approve the plan, Citadel -- which currently is concentrated in midsize markets -- will pick up Disney's 14 FM and eight AM stations in nine of the largest cities, including New York, Los Angeles and Chicago. That will lift the company from sixth to third place among radio owners -- after Clear Channel and CBS -- in overall revenue. ABC Radio generated two hundred million in operating profits on $575 million in revenue in 2005.
http://www.usatoday.com/printedition/money/20060207/disney07.art.htm

* Disney Plans a Radio Merger, and Reports a Rise in Income
http://www.nytimes.com/2006/02/07/business/media/07disney.html?pagewante...
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* Disney Sells Radio Stations To Citadel
http://www.broadcastingcable.com/article/CA6305392?display=Breaking+News...
(free access for Benton's Headlines subscribers)

* It's Official: ABC Radio, Citadel Merge
http://www.mediaweek.com/mw/news/recent_display.jsp?vnu_content_id=10019...