Citadel Communications

Citadel Communications is the name of the company of broadcasting born the February 7th 2006 of the fusion of ABC Radio operator, held by the Walt Disney Company, and of Citadel Broadcasting.

The February 6th 2006 the agreement of fusion and the name Citadel Communications' were announced. The company was to be held as follows:

  • 52% by the shareholders of the Walt Disney Company (increased to 57% in November 2006)
  • 32% by Forstmann Little
  • 16% by the other former shareholders of Citadel Broadcasting.

The new business has 177 stations FM (17 of ABC) and 66 AM (7 of ABC) in addition to the network ABC Radio operator Networks gathering 4  000 affiliated. It should be noted that do not form part of the agreement ESPN Radio and Radio Disney. The one 10 years duration agreement makes it possible Citadel to deliver the programming of ABC News Radio at the ground stations of radios. Disney preserves the rights in the other formats such as the satellite, the cable or the wireless telephony but loses the management of the radiophonic network of ABC.

History

For the history before fusion, to see the pages of ABC and Citadel Broadcasting.

  • the March 31st 2006, the two companies received the first of the many downstreams necessary to their fusion on behalf of the Federal Trade Commission. Fusion requires the assent of several commissions of which that anti-monopoly, regulation of the communications and federal service of the taxes.

  • the November 23rd 2006 Citadel Broadcasting announced that it could not repurchased Radio operator ABC at the price desired by Disney. The difference is of 300 million $. Disney accepted that its participation in Citadel Communications is increased by 200 million $ to reach 57% (instead of 52%) and that its shareholders touch 100 million $ less.

Sources

External bonds

  • Official site.

Random links:1620s | Kûrma | Zhang Min | KK Šiauliai | Roger B. Chaffee | Sonova | Louisa_Hanoune