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ABC/Citadel
- Thread starter radioguy1
- Start date
B
BACKnUSSR
Guest
> Now that ABC is selling off it's radio properties to Citadel
> (including the ABC Radio Network) what happens to it's NY
> stations. And my buddy Tom Powell at ABC Radio Network?
>
Citadel gets WABC and WPLJ...not Disney or ESPN
> (including the ABC Radio Network) what happens to it's NY
> stations. And my buddy Tom Powell at ABC Radio Network?
>
Citadel gets WABC and WPLJ...not Disney or ESPN
> > Now that ABC is selling off it's radio properties to
> Citadel
> > (including the ABC Radio Network) what happens to it's NY
> > stations. And my buddy Tom Powell at ABC Radio Network?
> >
>
>
> Citadel gets WABC and WPLJ...not Disney or ESPN
>
Would'nt they get the stations the formats are on?
> Citadel
> > (including the ABC Radio Network) what happens to it's NY
> > stations. And my buddy Tom Powell at ABC Radio Network?
> >
>
>
> Citadel gets WABC and WPLJ...not Disney or ESPN
>
Would'nt they get the stations the formats are on?
> > > Now that ABC is selling off it's radio properties to
> > Citadel
> > > (including the ABC Radio Network) what happens to it's
> NY
> > > stations. And my buddy Tom Powell at ABC Radio Network?
>
> > >
> >
> >
> > Citadel gets WABC and WPLJ...not Disney or ESPN
> >
>
> Would'nt they get the stations the formats are on?
No. First, Disney did not own 1560, it is an LMA. Second, niehter the Radio Disney nor the ESPN nets or owned stations were sold. Those were not part of the ABC Radio division, but, rather, part of the ESPN and Disney Entertainment brands and divisions.
> > Citadel
> > > (including the ABC Radio Network) what happens to it's
> NY
> > > stations. And my buddy Tom Powell at ABC Radio Network?
>
> > >
> >
> >
> > Citadel gets WABC and WPLJ...not Disney or ESPN
> >
>
> Would'nt they get the stations the formats are on?
No. First, Disney did not own 1560, it is an LMA. Second, niehter the Radio Disney nor the ESPN nets or owned stations were sold. Those were not part of the ABC Radio division, but, rather, part of the ESPN and Disney Entertainment brands and divisions.
> > > > Now that ABC is selling off it's radio properties to
> > > Citadel
> > > > (including the ABC Radio Network) what happens to it's
>
> > NY
> > > > stations. And my buddy Tom Powell at ABC Radio
> Network?
> >
> > > >
> > >
> > >
> > > Citadel gets WABC and WPLJ...not Disney or ESPN
> > >
> >
> > Would'nt they get the stations the formats are on?
>
> No. First, Disney did not own 1560, it is an LMA. Second,
> niehter the Radio Disney nor the ESPN nets or owned stations
> were sold. Those were not part of the ABC Radio division,
> but, rather, part of the ESPN and Disney Entertainment
> brands and divisions.
>
I would think Citadel becomes something like Citadel/ABC Radio and keeps the ABC name for on-air programming. And they incoperate the more well-known ABC brand into the stations they own now.
> > > Citadel
> > > > (including the ABC Radio Network) what happens to it's
>
> > NY
> > > > stations. And my buddy Tom Powell at ABC Radio
> Network?
> >
> > > >
> > >
> > >
> > > Citadel gets WABC and WPLJ...not Disney or ESPN
> > >
> >
> > Would'nt they get the stations the formats are on?
>
> No. First, Disney did not own 1560, it is an LMA. Second,
> niehter the Radio Disney nor the ESPN nets or owned stations
> were sold. Those were not part of the ABC Radio division,
> but, rather, part of the ESPN and Disney Entertainment
> brands and divisions.
>
I would think Citadel becomes something like Citadel/ABC Radio and keeps the ABC name for on-air programming. And they incoperate the more well-known ABC brand into the stations they own now.
A
abc7Man
Guest
> > > > > Now that ABC is selling off it's radio properties to
>
> > > > Citadel
> > > > > (including the ABC Radio Network) what happens to
> it's
> >
> > > NY
> > > > > stations. And my buddy Tom Powell at ABC Radio
> > Network?
> > >
> > > > >
> > > >
> > > >
> > > > Citadel gets WABC and WPLJ...not Disney or ESPN
> > > >
> > >
> > > Would'nt they get the stations the formats are on?
> >
> > No. First, Disney did not own 1560, it is an LMA. Second,
> > niehter the Radio Disney nor the ESPN nets or owned
> stations
> > were sold. Those were not part of the ABC Radio division,
> > but, rather, part of the ESPN and Disney Entertainment
> > brands and divisions.
> >
> I would think Citadel becomes something like Citadel/ABC
> Radio and keeps the ABC name for on-air programming. And
> they incoperate the more well-known ABC brand into the
> stations they own now.
>
So will Citadel give ABC News updates on the hour like they do now and what happens to the relationship with WPLJ and WABC-TV (since they do share some on-air talent and cross promotions)?
>
> > > > Citadel
> > > > > (including the ABC Radio Network) what happens to
> it's
> >
> > > NY
> > > > > stations. And my buddy Tom Powell at ABC Radio
> > Network?
> > >
> > > > >
> > > >
> > > >
> > > > Citadel gets WABC and WPLJ...not Disney or ESPN
> > > >
> > >
> > > Would'nt they get the stations the formats are on?
> >
> > No. First, Disney did not own 1560, it is an LMA. Second,
> > niehter the Radio Disney nor the ESPN nets or owned
> stations
> > were sold. Those were not part of the ABC Radio division,
> > but, rather, part of the ESPN and Disney Entertainment
> > brands and divisions.
> >
> I would think Citadel becomes something like Citadel/ABC
> Radio and keeps the ABC name for on-air programming. And
> they incoperate the more well-known ABC brand into the
> stations they own now.
>
So will Citadel give ABC News updates on the hour like they do now and what happens to the relationship with WPLJ and WABC-TV (since they do share some on-air talent and cross promotions)?
B
BACKnUSSR
Guest
> > > > > > Now that ABC is selling off it's radio properties
> to
> >
> > > > > Citadel
> > > > > > (including the ABC Radio Network) what happens to
> > it's
> > >
> > > > NY
> > > > > > stations. And my buddy Tom Powell at ABC Radio
> > > Network?
> > > >
> > > > > >
> > > > >
> > > > >
> > > > > Citadel gets WABC and WPLJ...not Disney or ESPN
> > > > >
> > > >
> > > > Would'nt they get the stations the formats are on?
> > >
> > > No. First, Disney did not own 1560, it is an LMA.
> Second,
> > > niehter the Radio Disney nor the ESPN nets or owned
> > stations
> > > were sold. Those were not part of the ABC Radio
> division,
> > > but, rather, part of the ESPN and Disney Entertainment
> > > brands and divisions.
> > >
> > I would think Citadel becomes something like Citadel/ABC
> > Radio and keeps the ABC name for on-air programming. And
> > they incoperate the more well-known ABC brand into the
> > stations they own now.
> >
> So will Citadel give ABC News updates on the hour like they
> do now and what happens to the relationship with WPLJ and
> WABC-TV (since they do share some on-air talent and cross
> promotions)?
>
The company becomes Citadel Broadcasting. The lease the "ABC RADIO" name and logo for an extended period of time and continue all of the news and programming as "ABC Radio Networks", but much like "NBC Radio" (owned by Westwood One) they will no longer have any direct connection to ABC Television or Disney.
They get 22 stations as well as the network.
> to
> >
> > > > > Citadel
> > > > > > (including the ABC Radio Network) what happens to
> > it's
> > >
> > > > NY
> > > > > > stations. And my buddy Tom Powell at ABC Radio
> > > Network?
> > > >
> > > > > >
> > > > >
> > > > >
> > > > > Citadel gets WABC and WPLJ...not Disney or ESPN
> > > > >
> > > >
> > > > Would'nt they get the stations the formats are on?
> > >
> > > No. First, Disney did not own 1560, it is an LMA.
> Second,
> > > niehter the Radio Disney nor the ESPN nets or owned
> > stations
> > > were sold. Those were not part of the ABC Radio
> division,
> > > but, rather, part of the ESPN and Disney Entertainment
> > > brands and divisions.
> > >
> > I would think Citadel becomes something like Citadel/ABC
> > Radio and keeps the ABC name for on-air programming. And
> > they incoperate the more well-known ABC brand into the
> > stations they own now.
> >
> So will Citadel give ABC News updates on the hour like they
> do now and what happens to the relationship with WPLJ and
> WABC-TV (since they do share some on-air talent and cross
> promotions)?
>
The company becomes Citadel Broadcasting. The lease the "ABC RADIO" name and logo for an extended period of time and continue all of the news and programming as "ABC Radio Networks", but much like "NBC Radio" (owned by Westwood One) they will no longer have any direct connection to ABC Television or Disney.
They get 22 stations as well as the network.
> Citadel gets WABC and WPLJ...not Disney or ESPN
Since WABC Radio runs the LMA for WQEW (Disney) and handles ad sales for WESN (ESPN), it would not surprise me for Citadel to work out an LMA for these stations with their respective divisions of Disney so that it would be pretty much business as usual for WABC Radio...just a different address to send the check to every month.
Just a thought,
Matt Smith, Station Manager
WGSR-TV "Star-39"
Reidsville, NC
Since WABC Radio runs the LMA for WQEW (Disney) and handles ad sales for WESN (ESPN), it would not surprise me for Citadel to work out an LMA for these stations with their respective divisions of Disney so that it would be pretty much business as usual for WABC Radio...just a different address to send the check to every month.
Just a thought,
Matt Smith, Station Manager
WGSR-TV "Star-39"
Reidsville, NC
B
BobHamilton
Guest
> > > > > > > Now that ABC is selling off it's radio
> properties
> > to
> > >
> > > > > > Citadel
> > > > > > > (including the ABC Radio Network) what happens
> to
> > > it's
> > > >
> > > > > NY
> > > > > > > stations. And my buddy Tom Powell at ABC Radio
> > > > Network?
> > > > >
> > > > > > >
> > > > > >
> > > > > >
> > > > > > Citadel gets WABC and WPLJ...not Disney or ESPN
> > > > > >
> > > > >
> > > > > Would'nt they get the stations the formats are on?
> > > >
> > > > No. First, Disney did not own 1560, it is an LMA.
> > Second,
> > > > niehter the Radio Disney nor the ESPN nets or owned
> > > stations
> > > > were sold. Those were not part of the ABC Radio
> > division,
> > > > but, rather, part of the ESPN and Disney Entertainment
>
> > > > brands and divisions.
> > > >
> > > I would think Citadel becomes something like Citadel/ABC
>
> > > Radio and keeps the ABC name for on-air programming.
> And
> > > they incoperate the more well-known ABC brand into the
> > > stations they own now.
> > >
> > So will Citadel give ABC News updates on the hour like
> they
> > do now and what happens to the relationship with WPLJ and
> > WABC-TV (since they do share some on-air talent and cross
> > promotions)?
> >
>
> The company becomes Citadel Broadcasting. The lease the
> "ABC RADIO" name and logo for an extended period of time and
> continue all of the news and programming as "ABC Radio
> Networks", but much like "NBC Radio" (owned by Westwood One)
> they will no longer have any direct connection to ABC
> Television or Disney.
> They get 22 stations as well as the network.
>
The Game Plan is done! Lots of cutting coming. BIG people better pack their bags! It's cut overhead time!
> properties
> > to
> > >
> > > > > > Citadel
> > > > > > > (including the ABC Radio Network) what happens
> to
> > > it's
> > > >
> > > > > NY
> > > > > > > stations. And my buddy Tom Powell at ABC Radio
> > > > Network?
> > > > >
> > > > > > >
> > > > > >
> > > > > >
> > > > > > Citadel gets WABC and WPLJ...not Disney or ESPN
> > > > > >
> > > > >
> > > > > Would'nt they get the stations the formats are on?
> > > >
> > > > No. First, Disney did not own 1560, it is an LMA.
> > Second,
> > > > niehter the Radio Disney nor the ESPN nets or owned
> > > stations
> > > > were sold. Those were not part of the ABC Radio
> > division,
> > > > but, rather, part of the ESPN and Disney Entertainment
>
> > > > brands and divisions.
> > > >
> > > I would think Citadel becomes something like Citadel/ABC
>
> > > Radio and keeps the ABC name for on-air programming.
> And
> > > they incoperate the more well-known ABC brand into the
> > > stations they own now.
> > >
> > So will Citadel give ABC News updates on the hour like
> they
> > do now and what happens to the relationship with WPLJ and
> > WABC-TV (since they do share some on-air talent and cross
> > promotions)?
> >
>
> The company becomes Citadel Broadcasting. The lease the
> "ABC RADIO" name and logo for an extended period of time and
> continue all of the news and programming as "ABC Radio
> Networks", but much like "NBC Radio" (owned by Westwood One)
> they will no longer have any direct connection to ABC
> Television or Disney.
> They get 22 stations as well as the network.
>
The Game Plan is done! Lots of cutting coming. BIG people better pack their bags! It's cut overhead time!
Re: Game Plan?
> >
> The Game Plan is done! Lots of cutting coming. BIG people
> better pack their bags! It's cut overhead time!
The deal has not even been filed for regulatory approval, and Disney said they expect it to close late this year.
How can there be a plan for what is 9 months away?
>
> >
> The Game Plan is done! Lots of cutting coming. BIG people
> better pack their bags! It's cut overhead time!
The deal has not even been filed for regulatory approval, and Disney said they expect it to close late this year.
How can there be a plan for what is 9 months away?
>
> I would think Citadel becomes something like Citadel/ABC
> Radio and keeps the ABC name for on-air programming. And
> they incoperate the more well-known ABC brand into the
> stations they own now.
My sources tell me the new company will be Citadel Communications. The glitch in this is that ABC has TVs with the same radio calls. I really doubt WABC-TV is going to give up WABC. When I worked for ABC the TV station wouldn't allow WABC-TV talent to appear on WABC-AM because of the nature of the radio format.
Some got around that by virtue of also being on the ABC Information Network.
Rich
> Radio and keeps the ABC name for on-air programming. And
> they incoperate the more well-known ABC brand into the
> stations they own now.
My sources tell me the new company will be Citadel Communications. The glitch in this is that ABC has TVs with the same radio calls. I really doubt WABC-TV is going to give up WABC. When I worked for ABC the TV station wouldn't allow WABC-TV talent to appear on WABC-AM because of the nature of the radio format.
Some got around that by virtue of also being on the ABC Information Network.
Rich
> > > > > > > > Now that ABC is selling off it's radio
> > properties
> > > to
> > > >
> > > > > > > Citadel
> > > > > > > > (including the ABC Radio Network) what happens
>
> > to
> > > > it's
> > > > >
> > > > > > NY
> > > > > > > > stations. And my buddy Tom Powell at ABC
> Radio
> > > > > Network?
> > > > > >
> > > > > > > >
> > > > > > >
> > > > > > >
> > > > > > > Citadel gets WABC and WPLJ...not Disney or ESPN
> > > > > > >
> > > > > >
> > > > > > Would'nt they get the stations the formats are on?
>
> > > > >
> > > > > No. First, Disney did not own 1560, it is an LMA.
> > > Second,
> > > > > niehter the Radio Disney nor the ESPN nets or owned
> > > > stations
> > > > > were sold. Those were not part of the ABC Radio
> > > division,
> > > > > but, rather, part of the ESPN and Disney
> Entertainment
> >
> > > > > brands and divisions.
> > > > >
> > > > I would think Citadel becomes something like
> Citadel/ABC
> >
> > > > Radio and keeps the ABC name for on-air programming.
> > And
> > > > they incoperate the more well-known ABC brand into the
>
> > > > stations they own now.
> > > >
> > > So will Citadel give ABC News updates on the hour like
> > they
> > > do now and what happens to the relationship with WPLJ
> and
> > > WABC-TV (since they do share some on-air talent and
> cross
> > > promotions)?
> > >
> >
> > The company becomes Citadel Broadcasting. The lease the
> > "ABC RADIO" name and logo for an extended period of time
> and
> > continue all of the news and programming as "ABC Radio
> > Networks", but much like "NBC Radio" (owned by Westwood
> One)
> > they will no longer have any direct connection to ABC
> > Television or Disney.
> > They get 22 stations as well as the network.
> >
> The Game Plan is done! Lots of cutting coming. BIG people
> better pack their bags! It's cut overhead time!
>
Well I'm sure there will be cuts, but Citadel will have to get the check book
out if they plan on doing it on the day they close...Because they are getting the Union Contracts for all the stations, and all the personal service and Staff/AFTRA contracts as well. All of whom have generous severance provisions. And if they Cut Air jobs and have to replace them with people, While the contracts are still in effect, they have to rehire at nearly the same rates. ALSO Keep in mind that the upper management of ABC Radio, and their local O/O stations have Contracts too. So Cha Ching again.
So This is the Game Plan:
We're gonna is pay 2.7 billion dollars for a very sucessful radio group, then wreck it by firing a lot of people, take my ratings down and effect the revenue because of it, and call it a day. I don't think so. Give them a few years to wreck the place, not all at once.
Disney stockholders will control 52% of the new company, It will be called Citadel Communications, They will not get abc radio news, It's part of the news division with TV that Disney will keep. They will get to Use "ABC" for one year after the close. Mr Suleman is a smart operator, He did run Infinity,of course there will be cuts, but he is not a foolish man. That's why Faried and Co. paid 155 million each for 22 stations. I think the quality of the operation ($) may have had somthing to do with it. Oh and the Call letters stay the same.
But then you've seen the Game Plan...I only work for them.
> > properties
> > > to
> > > >
> > > > > > > Citadel
> > > > > > > > (including the ABC Radio Network) what happens
>
> > to
> > > > it's
> > > > >
> > > > > > NY
> > > > > > > > stations. And my buddy Tom Powell at ABC
> Radio
> > > > > Network?
> > > > > >
> > > > > > > >
> > > > > > >
> > > > > > >
> > > > > > > Citadel gets WABC and WPLJ...not Disney or ESPN
> > > > > > >
> > > > > >
> > > > > > Would'nt they get the stations the formats are on?
>
> > > > >
> > > > > No. First, Disney did not own 1560, it is an LMA.
> > > Second,
> > > > > niehter the Radio Disney nor the ESPN nets or owned
> > > > stations
> > > > > were sold. Those were not part of the ABC Radio
> > > division,
> > > > > but, rather, part of the ESPN and Disney
> Entertainment
> >
> > > > > brands and divisions.
> > > > >
> > > > I would think Citadel becomes something like
> Citadel/ABC
> >
> > > > Radio and keeps the ABC name for on-air programming.
> > And
> > > > they incoperate the more well-known ABC brand into the
>
> > > > stations they own now.
> > > >
> > > So will Citadel give ABC News updates on the hour like
> > they
> > > do now and what happens to the relationship with WPLJ
> and
> > > WABC-TV (since they do share some on-air talent and
> cross
> > > promotions)?
> > >
> >
> > The company becomes Citadel Broadcasting. The lease the
> > "ABC RADIO" name and logo for an extended period of time
> and
> > continue all of the news and programming as "ABC Radio
> > Networks", but much like "NBC Radio" (owned by Westwood
> One)
> > they will no longer have any direct connection to ABC
> > Television or Disney.
> > They get 22 stations as well as the network.
> >
> The Game Plan is done! Lots of cutting coming. BIG people
> better pack their bags! It's cut overhead time!
>
Well I'm sure there will be cuts, but Citadel will have to get the check book
out if they plan on doing it on the day they close...Because they are getting the Union Contracts for all the stations, and all the personal service and Staff/AFTRA contracts as well. All of whom have generous severance provisions. And if they Cut Air jobs and have to replace them with people, While the contracts are still in effect, they have to rehire at nearly the same rates. ALSO Keep in mind that the upper management of ABC Radio, and their local O/O stations have Contracts too. So Cha Ching again.
So This is the Game Plan:
We're gonna is pay 2.7 billion dollars for a very sucessful radio group, then wreck it by firing a lot of people, take my ratings down and effect the revenue because of it, and call it a day. I don't think so. Give them a few years to wreck the place, not all at once.
Disney stockholders will control 52% of the new company, It will be called Citadel Communications, They will not get abc radio news, It's part of the news division with TV that Disney will keep. They will get to Use "ABC" for one year after the close. Mr Suleman is a smart operator, He did run Infinity,of course there will be cuts, but he is not a foolish man. That's why Faried and Co. paid 155 million each for 22 stations. I think the quality of the operation ($) may have had somthing to do with it. Oh and the Call letters stay the same.
But then you've seen the Game Plan...I only work for them.
> Well I'm sure there will be cuts, but Citadel will have to
> get the check book
> out if they plan on doing it on the day they close...Because
> they are getting the Union Contracts for all the stations,
> and all the personal service and Staff/AFTRA contracts as
> well. All of whom have generous severance provisions. And if
> they Cut Air jobs and have to replace them with people,
> While the contracts are still in effect, they have to rehire
> at nearly the same rates. ALSO Keep in mind that the upper
> management of ABC Radio, and their local O/O stations have
> Contracts too. So Cha Ching again.
>
> So This is the Game Plan:
>
> We're gonna is pay 2.7 billion dollars for a very sucessful
> radio group, then wreck it by firing a lot of people, take
> my ratings down and effect the revenue because of it, and
> call it a day. I don't think so. Give them a few years to
> wreck the place, not all at once.
>
> Disney stockholders will control 52% of the new company, It
> will be called Citadel Communications, They will not get abc
> radio news, It's part of the news division with TV that
> Disney will keep. They will get to Use "ABC" for one year
> after the close. Mr Suleman is a smart operator, He did run
> Infinity,of course there will be cuts, but he is not a
> foolish man. That's why Faried and Co. paid 155 million each
> for 22 stations. I think the quality of the operation ($)
> may have had somthing to do with it. Oh and the Call letters
> stay the same.
>
> But then you've seen the Game Plan...I only work for them.
>
Procuction boy is correct.....although Citadel will get to license the "ABC" name for the networks for TEN years.
Very similar to the Westwood One/NBC Radio Network agreement.
Paul Harvey, Sean Hannity, .et al are NOT part of ABC News and would have their programs now under the Citadel deal.
Also remember this is a MERGER with Disney still controlling a majority of the new company....so don't expect the minority shareholders to come in and oust everyone.
> get the check book
> out if they plan on doing it on the day they close...Because
> they are getting the Union Contracts for all the stations,
> and all the personal service and Staff/AFTRA contracts as
> well. All of whom have generous severance provisions. And if
> they Cut Air jobs and have to replace them with people,
> While the contracts are still in effect, they have to rehire
> at nearly the same rates. ALSO Keep in mind that the upper
> management of ABC Radio, and their local O/O stations have
> Contracts too. So Cha Ching again.
>
> So This is the Game Plan:
>
> We're gonna is pay 2.7 billion dollars for a very sucessful
> radio group, then wreck it by firing a lot of people, take
> my ratings down and effect the revenue because of it, and
> call it a day. I don't think so. Give them a few years to
> wreck the place, not all at once.
>
> Disney stockholders will control 52% of the new company, It
> will be called Citadel Communications, They will not get abc
> radio news, It's part of the news division with TV that
> Disney will keep. They will get to Use "ABC" for one year
> after the close. Mr Suleman is a smart operator, He did run
> Infinity,of course there will be cuts, but he is not a
> foolish man. That's why Faried and Co. paid 155 million each
> for 22 stations. I think the quality of the operation ($)
> may have had somthing to do with it. Oh and the Call letters
> stay the same.
>
> But then you've seen the Game Plan...I only work for them.
>
Procuction boy is correct.....although Citadel will get to license the "ABC" name for the networks for TEN years.
Very similar to the Westwood One/NBC Radio Network agreement.
Paul Harvey, Sean Hannity, .et al are NOT part of ABC News and would have their programs now under the Citadel deal.
Also remember this is a MERGER with Disney still controlling a majority of the new company....so don't expect the minority shareholders to come in and oust everyone.
>
> Also remember this is a MERGER with Disney still controlling
> a majority of the new company....so don't expect the
> minority shareholders to come in and oust everyone.
>
While this has been called a "merger" it is really a lot more ocmplicated than a simple "two become one" merger.
Disney, the company, will have no holding of the new Citadel. Current Disney shareholders of record at the date of the closing will be shareholders of Citadel, in proportion to their Disney holdings. At that point, the Disney shareholders can sell the Citadel shares and keep the Disney ones if they want.
Unless someone buys a ton of shares after the closing, the control will be firmly in the hands of the investment bankers who set up Citadel. Disney will be totally out of it.
> Also remember this is a MERGER with Disney still controlling
> a majority of the new company....so don't expect the
> minority shareholders to come in and oust everyone.
>
While this has been called a "merger" it is really a lot more ocmplicated than a simple "two become one" merger.
Disney, the company, will have no holding of the new Citadel. Current Disney shareholders of record at the date of the closing will be shareholders of Citadel, in proportion to their Disney holdings. At that point, the Disney shareholders can sell the Citadel shares and keep the Disney ones if they want.
Unless someone buys a ton of shares after the closing, the control will be firmly in the hands of the investment bankers who set up Citadel. Disney will be totally out of it.
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