Citadel Broadcasting announced that it has retained the services of Credit Suisse Securities LLC and Deutsche Bank Securities Inc. as financial advisors for the divestiture of assets as part of its purchase of ABC Radio properties. Citadel expects to generate between $75-$175 million in gross sale proceeds over the next 12-24 months, including certain stations that are required to be divested as a result of the ABC Radio transaction.

While it is unknown what stations Citadel is looking to sell off, Radio-Info reports that Citadel's stations in Buffalo, Syracuse, Knoxville and Binghamton are possibilities to go up for sale as part of the divestiture. Citadel currently owns 223 radio stations around the country, along with ABC Radio Networks.