Citadel Publicly Dicusses ABC Radio Merger Plans
February 24, 2006

With the long-awaited takeover of ABC/Disney's radio assets recently coming true, as a merger with Citadel Radio, the company's Chairman/CEO Farid Suleman has spoken about the plans for the new ownership group. Speaking at Citadel's financial conference call, Suleman said the merger would "enhance syndication possibilities and really diversify revenue," but also will add to the company's debt. According to The Hollywood Reporter, Suleman said the new company, which will be known as Citadel Communications, is expected to top $1 billion in 2007.

Suleman spoke eagerly of opportunities that their new affiliation with ESPN (which is staying with Disney) and local programming on the new AM acquisitions would present. He added that after the merger is complete, the company will likely purchase more stations in smaller markets. "We would clearly divest of markets that are not our core," he said. "In light of the merger, management would be better directed at higher cash flow situations vs. smaller, lower cash flow situations."

Altogether, 22 former ABC Disney stations in nine major markets are a part of the new Citadel Communications.




 
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Cumulus Media

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