• Get involved.
    We want your input!
    Apply for Membership and join the conversations about everything related to broadcasting.

    After we receive your registration, a moderator will review it. After your registration is approved, you will be permitted to post.
    If you use a disposable or false email address, your registration will be rejected.

    After your membership is approved, please take a minute to tell us a little bit about yourself.
    https://www.radiodiscussions.com/forums/introduce-yourself.1088/

    Thanks in advance and have fun!
    RadioDiscussions Administrators

Citadel Hits a PENNY

S

SirRoxalot

It's over. Stop the charade, stop paying Farid millions, and declare Chapter 11 already. Reorganize or liquidate, but stop doing more damage to the product by cutting more talented people.

The stockholders are already screwed. It's time to revalue the stations, shed the overwhelming debt, and get back to business.
 
Forstmann Little & Company owns 27% of Citadel and I would guess that they will do what they can to stop the company from filing bankruptcy.

I'm no bussinessman or stock broker but I figure that if they can finance the short term loans and get a new managment in place it could work out. The revenue for 2008 wasn't bad.
 
Wouldn't surprise me if Forstmann increased its percentage in the next few months. Assets are assets, and they'd get a lot for their money.
 
It's my understanding that the Disney deal isn't complete until June. Former Disney shareholders own 51% of the company. I believe that they'll ultimately determine the fate of the company.
 
I've done a search of all the documents related to the sale. Disney shareholders have between 52 and 57% of the company. There is no reference to any date in June 2009. That would mark two years from the closing date in June 2007. I didn't see any targets or deadline that would be triggered two years from closing.
 
pocket-radio said:
Radio has one asset. Cash flow! Has their debt eaten away at that too?
Click to expand...

I don't know :) Please tell me.

http://finance.yahoo.com/q/cf?s=CTDB.PK

PERIOD ENDING 30-Sep-08 30-Jun-08 31-Mar-08 31-Dec-07
Net Income 27,986 (251,550) (8,273) (848,038)

Operating Activities, Cash Flows Provided By or Used In
Depreciation 11,126 13,612 9,787 12,239
Adjustments To Net Income (3,362) 285,256 17,727 874,943
Changes In Accounts Receivables 14,773 (40,555) 36,526 19,066
Changes In Liabilities 4,017 14,587 (27,978) 11,417
Changes In Inventories - - - -
Changes In Other Operating Activities 3,333 1,531 (4,130) 1,951

Total Cash Flow From Operating Activities 57,873 22,881 23,659 71,578

Investing Activities, Cash Flows Provided By or Used In
Capital Expenditures (1,852) (2,880) (2,251) (2,805)
Investments - - - -
Other Cashflows from Investing Activities (2,172) 926 73 18,914

Total Cash Flows From Investing Activities (4,024) (1,954) (2,178) 16,109

Financing Activities, Cash Flows Provided By or Used In
Dividends Paid - - - -
Sale Purchase of Stock (8) (7) (1,197) -
Net Borrowings (99,613) (86,556) (92,098) (187)
Other Cash Flows from Financing Activities - - - -

Total Cash Flows From Financing Activities (99,621) (86,563) (93,295) (187)
Effect Of Exchange Rate Changes - - - -

Change In Cash and Cash Equivalents ($45,772) ($65,636) ($71,814) $87,500
 
Status
This thread has been closed due to inactivity. You can create a new thread to discuss this topic.


Back
Top Bottom