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Detroit/WJR 760/Citadel: 1 cent stock

N

naughtytalker

The Radio Equalizer reports:

http://radioequalizer.blogspot.com/

Citadel stock falls to one cent per share, trading on NYSE is halted. Total corporate market capitalization down to $3 million dollars. Citadel owns and operates heritage stations WJR Detroit, WABC New York, KABC Los Angeles, KGO San Francisco, WMAL Washington D.C., WBAP Dallas, and many others from Albuquerque to Providence. They also hold the licensing agreements to operate ABC radio news and networks.


[Link added by Radio-Info as a courtesy]
 
naughtytalker said:
The Radio Equalizer reports:

http://radioequalizer.blogspot.com/

Citadel stock falls to one cent per share, trading on NYSE is halted. Total corporate market capitalization down to $3 million dollars. Citadel owns and operates heritage stations WJR Detroit, WABC New York, KABC Los Angeles, KGO San Francisco, WMAL Washington D.C., WBAP Dallas, and many others from Albuquerque to Providence. They also hold the licensing agreements to operate ABC radio news and networks.


[Link added by Radio-Info as a courtesy]
Click to expand...

WJR is worth more than all of citadel.
 
I went on my Scottrade account and bought 7,000 shares of it. I can waste that much money on a good dinner out with my wife. So far I'm having fun watching it go up & down.
 
BaltimoreJack said:
I went on my Scottrade account and bought 7,000 shares of it. I can waste that much money on a good dinner out with my wife. So far I'm having fun watching it go up & down.
Click to expand...

Who knows you might end up owning a whole bunch of radio stations.
 
WJR is no longer a "Heritage" radio station. WJR is basically a repeater station for syndicated radio shows. True "Heritage" stations in my opinion are KGO, WBZ, and KFI. WJR has fallen a long way. I on many occasions have written them trying to get a locally produced overnite show (i.e. 12 a.m. to 5 a.m.), and perhaps even a prime-time show (8 to 11 p.m.) like the old David Newman show. The people calling the shots are New York based - not Detroit. How can a station like KGO have so much live & local content yet WJR has to have most airtime dedicated to syndicated shows? Detroit market is really short-changed. Maybe it's because our market does not have much clout anymore (no longer being a top ten market, etc.). Not sure but it is sad.
 
Wthom100 said:
WJR is no longer a "Heritage" radio station. WJR is basically a repeater station for syndicated radio shows. True "Heritage" stations in my opinion are KGO, WBZ, and KFI. WJR has fallen a long way. I on many occasions have written them trying to get a locally produced overnite show (i.e. 12 a.m. to 5 a.m.), and perhaps even a prime-time show (8 to 11 p.m.) like the old David Newman show. The people calling the shots are New York based - not Detroit. How can a station like KGO have so much live & local content yet WJR has to have most airtime dedicated to syndicated shows? Detroit market is really short-changed. Maybe it's because our market does not have much clout anymore (no longer being a top ten market, etc.). Not sure but it is sad.
Click to expand...

It is sad that there is very little local produced radio left.
 
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