Advertisement
YOU ARE HERE: LAT HomeCollectionsCitadel Communications Corp
IN THE NEWS

Citadel Communications Corp

FEATURED ARTICLES
BUSINESS
October 26, 2000 | From Bloomberg News
Citadel Communications Corp. shares fell as much as 48% after the radio station owner said its third-quarter loss widened because of acquisition and interest expenses. The stock dropped $7.38 to close at $8.63 on Nasdaq on Wednesday. It traded as low as $8.25, the lowest price since Citadel first sold shares to the public at $16 in June 1998. The Las Vegas-based owner of radio stations in mid-size markets reported late Wednesday that its loss widened to $11.
ARTICLES BY DATE
BUSINESS
April 1, 2006 | Charles Duhigg, Times Staff Writer
Four of the nation's largest radio station groups are in active talks with the Federal Communications Commission to settle investigations over alleged "pay for play" violations. But negotiations with Clear Channel Communications Inc., CBS Radio Inc., Entercom Communications Corp. and Citadel Broadcasting Corp. have bogged down over how large a fine the companies should pay and what constitutes improper on-air promotion, according to industry and agency sources familiar with the talks.
Advertisement
BUSINESS
February 21, 2002
Farid Suleman, chief executive of Viacom Inc.'s Infinity radio division and a longtime lieutenant to Viacom President Mel Karmazin, resigned Wednesday to become chief executive of radio group Citadel Communications Corp. The move appeared to jibe with Wall Street's belief that Karmazin may depart the company when his contract expires next year. Karmazin, the former CBS CEO who gained operating control of Viacom in May 2000, has been locked in a management dispute with Viacom CEO Sumner Redstone.
BUSINESS
February 7, 2006 | Kim Christensen, Times Staff Writer
Disneyland's 50th-anniversary celebration helped boost Walt Disney Co.'s fiscal first-quarter profit by 7%, despite a sharp drop in its movie studio earnings. Television operations and consumer products also made strong showings, the Burbank media giant said Monday, the same day it announced it would merge its ABC Radio stations with Citadel Broadcasting Corp. Disney's net income for the quarter ended Dec.
BUSINESS
January 17, 2001 | From Bloomberg News
Forstmann Little & Co., a leveraged-buyout firm, agreed to buy Citadel Communications Corp., an owner of radio stations in mid-size U.S. markets, for $962 million. Forstmann will pay $26 in cash for each Citadel share, 49% more than Friday's closing price. Citadel jumped $7.25 to close at $24.75 on Nasdaq. New York-based Forstmann is paying $962 million and assuming $1 billion in debt, Citadel Chairman Lawrence Wilson said.
BUSINESS
January 4, 2001 | JOSH FINEMAN, BLOOMBERG NEWS
Radio company executives have been on a buying spree of their own stocks in recent months, a sign that the precipitous decline of radio industry stocks over the last year may have finally hit bottom. Officers of Camarillo-based Salem Communications Corp. bought about $4.2 million worth of stock in the religious radio broadcaster in November after the shares fell more than 50% from their 52-week high in January.
BUSINESS
January 24, 2006 | From Reuters
Citadel Broadcasting Corp., after trumping two rivals in a bid for Walt Disney Co.'s ABC Radio unit, is in exclusive negotiations with Burbank-based Disney on a deal that could reach nearly $3 billion, according to sources close to the talks. Citadel, a Las Vegas-based radio broadcaster largely owned by private equity firm Forstmann Little & Co., has been an active but publicly quiet presence in the ABC Radio negotiations for months, sources said. Radio rival Entercom Communications Corp.
BUSINESS
February 7, 2006 | Kim Christensen, Times Staff Writer
Disneyland's 50th-anniversary celebration helped boost Walt Disney Co.'s fiscal first-quarter profit by 7%, despite a sharp drop in its movie studio earnings. Television operations and consumer products also made strong showings, the Burbank media giant said Monday, the same day it announced it would merge its ABC Radio stations with Citadel Broadcasting Corp. Disney's net income for the quarter ended Dec.
BUSINESS
January 5, 2005 | From Reuters
Citadel Broadcasting Corp. yanked Howard Stern from four stations this week and may never resume the show because of tensions over the radio host's tendency to tout his upcoming move to satellite radio. Stern plans to leave terrestrial radio in 2006, when he moves his ribald show to Sirius Satellite Radio Inc. "Regrettably, Mr. Stern has transformed the content of his show into a continuous infomercial promoting Sirius, his new satellite radio employer," Citadel said in a statement.
BUSINESS
April 1, 2006 | Charles Duhigg, Times Staff Writer
Four of the nation's largest radio station groups are in active talks with the Federal Communications Commission to settle investigations over alleged "pay for play" violations. But negotiations with Clear Channel Communications Inc., CBS Radio Inc., Entercom Communications Corp. and Citadel Broadcasting Corp. have bogged down over how large a fine the companies should pay and what constitutes improper on-air promotion, according to industry and agency sources familiar with the talks.
BUSINESS
January 24, 2006 | From Reuters
Citadel Broadcasting Corp., after trumping two rivals in a bid for Walt Disney Co.'s ABC Radio unit, is in exclusive negotiations with Burbank-based Disney on a deal that could reach nearly $3 billion, according to sources close to the talks. Citadel, a Las Vegas-based radio broadcaster largely owned by private equity firm Forstmann Little & Co., has been an active but publicly quiet presence in the ABC Radio negotiations for months, sources said. Radio rival Entercom Communications Corp.
BUSINESS
January 5, 2005 | From Reuters
Citadel Broadcasting Corp. yanked Howard Stern from four stations this week and may never resume the show because of tensions over the radio host's tendency to tout his upcoming move to satellite radio. Stern plans to leave terrestrial radio in 2006, when he moves his ribald show to Sirius Satellite Radio Inc. "Regrettably, Mr. Stern has transformed the content of his show into a continuous infomercial promoting Sirius, his new satellite radio employer," Citadel said in a statement.
BUSINESS
February 21, 2002
Farid Suleman, chief executive of Viacom Inc.'s Infinity radio division and a longtime lieutenant to Viacom President Mel Karmazin, resigned Wednesday to become chief executive of radio group Citadel Communications Corp. The move appeared to jibe with Wall Street's belief that Karmazin may depart the company when his contract expires next year. Karmazin, the former CBS CEO who gained operating control of Viacom in May 2000, has been locked in a management dispute with Viacom CEO Sumner Redstone.
BUSINESS
January 17, 2001 | From Bloomberg News
Forstmann Little & Co., a leveraged-buyout firm, agreed to buy Citadel Communications Corp., an owner of radio stations in mid-size U.S. markets, for $962 million. Forstmann will pay $26 in cash for each Citadel share, 49% more than Friday's closing price. Citadel jumped $7.25 to close at $24.75 on Nasdaq. New York-based Forstmann is paying $962 million and assuming $1 billion in debt, Citadel Chairman Lawrence Wilson said.
BUSINESS
January 4, 2001 | JOSH FINEMAN, BLOOMBERG NEWS
Radio company executives have been on a buying spree of their own stocks in recent months, a sign that the precipitous decline of radio industry stocks over the last year may have finally hit bottom. Officers of Camarillo-based Salem Communications Corp. bought about $4.2 million worth of stock in the religious radio broadcaster in November after the shares fell more than 50% from their 52-week high in January.
BUSINESS
October 26, 2000 | From Bloomberg News
Citadel Communications Corp. shares fell as much as 48% after the radio station owner said its third-quarter loss widened because of acquisition and interest expenses. The stock dropped $7.38 to close at $8.63 on Nasdaq on Wednesday. It traded as low as $8.25, the lowest price since Citadel first sold shares to the public at $16 in June 1998. The Las Vegas-based owner of radio stations in mid-size markets reported late Wednesday that its loss widened to $11.
CALIFORNIA | LOCAL
January 30, 2001 | BARBARA MURPHY
Salem Communications Corp., a broadcaster of religious programming based in Camarillo, said it will buy Boston radio station WROL-AM 950 from closely held Carter Broadcasting Inc. for $11 million to boost its presence in the northeastern U.S. Salem expects to complete the transaction in the first half of this year, said Tricia Whitehead, a company spokeswoman. WROL-AM will be the company's second Christian talk-radio station in the Boston area. Salem also owns WEZE-AM 590.
Los Angeles Times Articles
|