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Citadel Celebrates

E

Element9

Inside Radio said:
Citadel marks ABC anniversary.
It's been two years since Citadel Broadcasting struck a $2.7 billion deal to buy ABC Radio and ABC Radio Networks. CEO Farid Suleman says the company is "a lot better off" with the big market stations as part of their portfolio. He also says their revenue and ratings have turned around in recent months.
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What Farid really means when he says the company is "a lot better off with big market stations" is Citadel will be glad to spin off those major market stations hoping to get some real money for them to pay down the company's creditors after it declares bankruptcy.

Inside Radio said:
Suleman: We've got company. Saddled with $2.1 billion in debt, Citadel last month enlisted financial advisory firm Lazard Freres & Co. to help sort through financial options. That may sound dire, but CEO Farid Suleman says he's in the same situation as everyone else. Read our exclusive Q&A with Farid Suleman online.
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What Farid means when he says he (Citadel) is "in the same situation as everyone else" is, Citadel is just as f'ed-up as Clear Channel-Bain and Cumulus! So, whatever's good for Clear Channel-Bain and Cumulus is good for Citadel.

Why does Monty Python's "we're all bozo's on the back of this bus" routine come to mind.
 
It's always fun to read quotes from Spin Doctors. This goes for Managers, Program Directors, publicists, etc. Anybody who thinks the public is to stupid to read right through their Bullsh*t. Farid must have his head up in a cloud if he expects anybody to believe that things are looking up.
 
BTW, the quote is actually from "Firesign Theatre." The point stands, nonetheless.
Skynet74 said:
It's always fun to read quotes from Spin Doctors. This goes for Managers, Program Directors, publicists, etc. Anybody who thinks the public is to stupid to read right through their Bullsh*t. Farid must have his head up in a cloud if he expects anybody to believe that things are looking up.
Click to expand...

Indeed, as we say in the lab, "It doesn't pass the laugh test, who'd ever buy this bullsh*t?" Which is why Citadel's been tossed from the NYSE and the company's stock is a rollicking 6 cents a share as of Friday's close. Pinheads, the lot of 'em.
 
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