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Citadel Death clock and fire sale

Things are happening faster than I had thought they would. Much faster.

Are you thinkin'... bankruptcy-court ordered fire sale?

I definitely think it will happen, I just don't know when... six months? I wish I knew more about how bankruptcy proceedings went.

I have a question about the more immediate future - if they just took a hit of almost a billion dollars, is staff getting paid?
 
I am sure Mr. Suleman is still receiving his salary...and bonuses. Never mind his questionable moves at Citadel or in the past.
 
The signs of an economic turndown, particularly in radio revenue, have been in place for some time now. That is why Disney sold the stations.Paying what they did for the stations, Citadel proved they are boneheads when it comes to making radio deals. They need to enhance revenue, like being more creative with their web sites, instead of cutting back on product.
 
I've wondered for a long time when the money men behind Citadel were going to rise up and say, sell the assets and give us back some of our capital. I think it's only a matter of time before that happens and you know which stations will be sold first. Wonder if anyone is still interested in buy the ABC stations whole. Not, of course, for what Citadel paid....
 
Pulse 95. I like that.

Pulse on a strong signal. Would knock out a big chunk of KTU's audience. A smaller chunk of Z-100's audience. A nice chunk of Shot 97's and Power 1-0-Jive-1's morning audience.

Sounds real good.
 
I would not be surprised if ABC/Disney eventually reclaims the New York stations (WABC, WPLJ et.al.) at least. Citadel obviously has gone beyond its' means in buying the ABC Radio Group of stations. I'll betcha that Citadel will try to get some kind of negotiations with Disney about selling it all back (or at least part of it). Let's face it, at the present time, this economy is sucking pond water. And until the turnaround occurs, everybody wants to "survive" the bad times..... even the media companies. Citadel will survive, but in order to do so, maybe talking to Disney may not be a bad thing. IMHO.
 
I think Disney may be so relieved to have gotten out just in time, they may be too gun-shy to even get into that discussion with Citadel. BUT, all that being said, I think it's absolutely within the realm of possibility that a company like Emmis or CBS or Entercom or any of the others (that aren't on the verge of *cough* bankruptcy *cough*) might smell blood in the water and see an opportunity to get some good stations, waaaay cheap.

"Heeey, we'll take those stations off your hands for 40 cents on the dollar!"

Citadel might be in such desperate need of cash that they might take anything just to get rid of the stations and round up some money fast.
 
Stations are about to lose a chunk of value over the next 18-24 months...

- CC cannot get the deal done. Their revenue is off and the longer it goes down, the less likely they can sell the whole group

- Lincoln Financial stops their sale because they don't like the bids. Too low for them...

- Citadel lets go talent all over the company, catching many by suprise and saying their revenue is off.

- CBS just unloaded stations, could layoffs be next?

- Cumulus isn't doing much except waiting for the chance to buy Star in Atlanta.

- Does Cox want to get involved in NYC? With their recent purchase in Athens, GA, they are looking for values, not market share and big sticks (unless it's a fire sale they can turn into a revenue moneymaker)

I see about a 15-20% reduction in sticks (or a correction to 2-3x cash flow) before anyone gets excited about buying stations.
 
WABC migrates to WPLJ; existing AM signal goes dark or is brokered off. Straightforward solution
 
Mr. Bill said:
- CBS just unloaded stations, could layoffs be next?
Click to expand...

Uh, (C)BS had their own bloodbath on or about February 7.

Just ask nine-year AM driver Bill Gardner at oldies KOOL-FM Phoenix,
along with quite a few others nationwide. I'm sure you know of the
cuts made in NYC.


Too bad Farid can't be thrown into the street. Ya think the stockholders
can convince the BOD to dump him? (And no lovely parting gifts either!)
 
Hey will any of ABC/Citdael's syndicated personalties like Hannity, Levin, Imus etc. be affected by the company's problems?
 
Isn't it bad enough that we have to hear those GOD-AWFUL Shannon-talking-into-a-coffee-can-while-annoying-synth-SFX-go-off-in-the-backgroud liners all over WPLJ and WABC? 24/7 of that might cause mass-hara-kiri... ;)
 
NY's AM luvin audience would go nuts over a low cost 'oldies/hits' station blasting out the AM,just in time for summer, on the 77 frequency,and it would knock some air out of CBS FM, for sure...
 
I don't think it would knock much air at all out of CBS-FM. This ain't the 70's, anyone younger than 45 or 50 isn't tuning to AM radio to get their music. CBS-FM is targeting younger demos, that are not going to turn off the FM radio to hear music on AM and relive the glory days of a once-great AM station that many of them probably don't even remember at this stage. No way, not gonna happen.
 
WABC could easily get the older demo WCBS-FM doesn't want. If any AM could do it WABC could.
 
people aren't tuning to AM for their music cos IT ISN"T BEING OFFERED ON AM- not yet, anyway; a re born True Oldie WABC would be a swift, instant triumph, ;spare me the 'radio wisdom' hand book, that's what got everyone into the mess they're in IN THE FIRST PLACE!!!...lol...
 
Phil said:
WABC could easily get the older demo WCBS-FM doesn't want. If any AM could do it WABC could.
Click to expand...
All these comments are obviously by old WABC-AM listeners. Hell would freeze over before an AM station in this age could even get on the map playing music. WABC was a station we all knew but it was because of it's time not anything else. All nice dreams though.
 
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