Citadel: Turning It Around

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Citadel revenue down 10%.
A smaller roster of syndicated programs and the absence of political advertising hit Citadel’s bottom line. Excluding those factors, net revenues would have been off by just 7% in fourth quarter. The station group had a smaller decline, slipping 5% with stations in large markets outperforming the mid-and small-market clusters.

Kind of. Large markets outperforming medium and small-markets. Buffalo, Syracuse and Binghamton?

 

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Inside Radio: Tuesday March 9, 2010 Citadel shareholders say they’re being “shortchanged.” — With Citadel in chapter 11, the first complaints with their reorganization plan are coming to light. At issue is what the company is worth, and whether radio’s recovery negates the need to restructure. Read the full story in today's Inside Radio.

Imagine debating the worth of the company at this point. Love to be a ceiling tile in that room.

Inside Radio: Friday March 12, 2010: Judge clears Citadel to cancel contracts. It’s the hit list that many have been waiting for — which contracts will Citadel jettison as part of its Chapter 11 reorganization. U.S. Bankruptcy Judge Burton Lifland has cleared Citadel to dump two dozen contracts, ranging from tower sites to office leases. But the four-page list is likely shorter than many had expected or feared. More in today's Inside Radio.

Any personal services contracts affected by this?