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And In Other News Today

> Citadel gets bigger.
>

I think these deals are funny....Take this from the article:

The transaction gives Disney shareholders about a 52 percent stake in a new company, called Citadel Communications, which combines Citadel's stations with Disney's ABC assets.

Much like the deal that Disney made by buying Pixar from Steve Jobs and company with Steve winding up as the largest Disney shareholder complete with a seat on the board!

Am I missing something here? Who bought who?
 
> Citadel gets bigger.
>
But winds up majority-owned by The Mouse, with the inevitable changes in company management and board which will put the whole 200+ station combined group effectively under Disney CEO Bob Iger's control.
Whatever Citadel was in the past, it will inevitably, for all practical purposes, be gradually absorbed into the Disney fold in every way that counts. That probably won't mean a whole lot to the more successful stations in the Citadel chain (like WHTT or 97 Rock) but more marginal properties, or underperformers, could be in for changes---just as underperforming ABC properties like New York's WPLJ could be in for a shakeup as well. Stay tuned.
 
Oh, Boy

> Am I missing something here? Who bought who?

It doesn't really matter who bought who. What does really matter is that there's a truckload of new debt for the "combined" company that emerges from this deal.

I'm sure that the beancounters are already sharpening their pencils and looking for places to "trim the fat". I'm also sure that even successful stations won't be immune from the new broom that will be doing some sweeping.

As Ed Ames might say, "Beware of Flying Hatchets."
 
Re: Oh, Boy

> It doesn't really matter who bought who. What does really
> matter is that there's a truckload of new debt for the
> "combined" company that emerges from this deal.
>
> I'm sure that the beancounters are already sharpening their
> pencils and looking for places to "trim the fat". I'm also
> sure that even successful stations won't be immune from the
> new broom that will be doing some sweeping.
>
> As Ed Ames might say, "Beware of Flying Hatchets."
>

Good one! Trimming the "Fat" is one thing but they often end up trimming the "Muscle". In other words how long can you keep chipping away at the foundation before the entire thing caves in on itself? We may be close to an answer!

MikeM
 
Re: Oh, Boy

> > Am I missing something here? Who bought who?
>
> It doesn't really matter who bought who. What does really
> matter is that there's a truckload of new debt for the
> "combined" company that emerges from this deal.
>
> I'm sure that the beancounters are already sharpening their
> pencils and looking for places to "trim the fat". I'm also
> sure that even successful stations won't be immune from the
> new broom that will be doing some sweeping.
>
> As Ed Ames might say, "Beware of Flying Hatchets."
>

And if Ed Ames is any predictor of what is cut first...
 
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