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Clear Channel Interested In Disney's Radio Stations
July 1, 2005

The Walt Disney Co. has been rumored to be interested in selling off its radio station for some time, and Clear Channel has taken notice. In an interview yesterday, CC CEO John Hogan said the company would be interested in Disney's stations if they do put them up for sale.

"We have, and will continue to have, a very keen interest in improving our portfolio," Hogan said, according to Market Watch. "There are a number of stations that Disney owns that we could very easily add to our existing portfolio, and do very well with." He continued, "The question is, at what price? We have a long history of having a very responsible financial model that we apply to potential purchases, and if we could do it, and have it make sense, we would certainly be interested."

Back in May, Disney's Bob Iger spoke at their quarterly report conference call, though he would not confirm that any stations would be put up for sale. "As we've said about a number of our assets, we are always open to looking at possibilities of either buying or selling assets," Iger said. "We are not going to comment specifically, though, as to whether we are looking to buy or sell radio properties at this point."




 
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