Citadel/ABC Merger almost there

By Eric O Brien

Pittsburgh, National News: According to Radio Ink, Walt Disney Co. has released the details for the spin-off of ABC Radio and programming operations to Citadel Broadcasting. The 22 radio stations (NOT including Pittsburgh's WEAE 1250 as it is an ESPN Radio Outlet) and ABC Radio Network will be transferred into ABC Radio Holdings Inc. - a subsidiary. Stock for the new company will be distributed to current shareholders. The new subsidiary will then merge with a wholly owned subsidiary of Citadel thereby allowing Citadel to exchange one share of stock for each share of ABC Radio Holdings. The proposed merger was announced in February 2006 and the closing will happen 6/12.

Pittsburgh, National News | two comments | Link To This Entry

Posted at May 29, 2007 at 12:35 pm by






Readers’ Forum

Eric—

WEAE is not included with the sale. Although it is ABC-owned, it is an ESPN Radio outlet, which was explicitly EXCLUDED from the ABC-Citadel deal (along with ABC O&O Radio Disney stations).

See the list of 22 ABC stations here, from the original announcement in February 2006:
http://corporate.disney.go.com/news/corp..
Johnny Morgan - May 29, 2007 at 8:00 pm

Thanks Johnny. Made the correction.
Eric (URL) - May 29, 2007 at 9:28 pm

  
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