Report: Cumulus, Citadel, Entercom Bid For Susqy Stns?

[BossRadioDJ]

From today's Bloomberg News (http://www.bloomberg.com/apps/news?pid=10000103&sid=am.Enp9RVUoQ&refer=us):

{snip}
Comcast [which is reportedly bidding for Susquehanna's cable TV operations] is competing with a bid from a management-led group that wants to buy both the cable and radio assets, the people said. ... Comcast already owns 30 percent of Susquehanna's cable unit and has a right-of- first-refusal on the rest, giving the company an advantage.

Current and former Susquehanna management, paired with Providence Equity Partners and other leveraged buyout firms, could still raise its bid, one person familiar with the matter said. One advantage this group has is that selling all the assets together is more tax-efficient, people said.

At least three other groups, including radio broadcasters Cumulus Media Inc., Citadel Broadcasting Corp. and Entercom Communications Corp., bid for the radio business, which has 33 stations in markets such as San Francisco, Dallas, Atlanta and Houston, the people said.

Marty Gausvik, CFO of Atlanta-based Cumulus, and Steve Fisher, CFO at Bala Cynwyd, Pennsylvania-based Entercom, declined to comment. Patricia Stratford, acting CFO of Las Vegas-based Citadel, didn't return a voicemail message seeking comment.
{/snip}

DJ<P ID="signature">______________
<center>
Bay Area Radio Museum | Bay Area Radio Digest
</center></P>

 

[paulsecic]

These companies are also bidding for ABC'S O&O stations


From today's Bloomberg News
(http://www.bloo> mberg.com/apps/news?pid=10000103&sid=am.Enp9RVUoQ&refer=us):
>
>
> {snip}
> Comcast [which is reportedly bidding for Susquehanna's cable
> TV operations] is competing with a bid from a management-led
> group that wants to buy both the cable and radio assets, the
> people said. ... Comcast already owns 30 percent of
> Susquehanna's cable unit and has a right-of- first-refusal
> on the rest, giving the company an advantage.
>
> Current and former Susquehanna management, paired with
> Providence Equity Partners and other leveraged buyout firms,
> could still raise its bid, one person familiar with the
> matter said. One advantage this group has is that selling
> all the assets together is more tax-efficient, people said.
>
> At least three other groups, including radio broadcasters
> Cumulus Media Inc., Citadel Broadcasting Corp. and Entercom
> Communications Corp., bid for the radio business, which has
> 33 stations in markets such as San Francisco, Dallas,
> Atlanta and Houston, the people said.
>
> Marty Gausvik, CFO of Atlanta-based Cumulus, and Steve
> Fisher, CFO at Bala Cynwyd, Pennsylvania-based Entercom,
> declined to comment. Patricia Stratford, acting CFO of Las
> Vegas-based Citadel, didn't return a voicemail message
> seeking comment.
> {/snip}
>
> DJ
>

 

[morescrapple]

still expect susq management to take it


> From today's Bloomberg News
(http://www.bloo> mberg.com/apps/news?pid=10000103&sid=am.Enp9RVUoQ&refer=us):
>
>
> {snip}
> Comcast [which is reportedly bidding for Susquehanna's cable
> TV operations] is competing with a bid from a management-led
> group that wants to buy both the cable and radio assets, the
> people said. ... Comcast already owns 30 percent of
> Susquehanna's cable unit and has a right-of- first-refusal
> on the rest, giving the company an advantage.
>
> Current and former Susquehanna management, paired with
> Providence Equity Partners and other leveraged buyout firms,
> could still raise its bid, one person familiar with the
> matter said. One advantage this group has is that selling
> all the assets together is more tax-efficient, people said.
>
> At least three other groups, including radio broadcasters
> Cumulus Media Inc., Citadel Broadcasting Corp. and Entercom
> Communications Corp., bid for the radio business, which has
> 33 stations in markets such as San Francisco, Dallas,
> Atlanta and Houston, the people said.
>
> Marty Gausvik, CFO of Atlanta-based Cumulus, and Steve
> Fisher, CFO at Bala Cynwyd, Pennsylvania-based Entercom,
> declined to comment. Patricia Stratford, acting CFO of Las
> Vegas-based Citadel, didn't return a voicemail message
> seeking comment.
> {/snip}
>
> DJ
>