Who's In Control

[Element9]

From Inside Radio, January 16, 2007:​

What's stalling FCC approval of the Citadel/ABC deal? Today is Day 312 and the FCC's "clock" hasn't stopped since the $2.4 billion deal for 24 Disney radio stations was filed last March 7. But so far - nothing. The FCC may not be happy with the arrangement that gives Disney 57% of the stock while Citadel parent Forstmann-Little1 would have day-to day control. Closing's not expected until mid-Summer.

Seems elementary. If one company own 51% of the stock and the other owns 49% of the stock, the company owning the greater number of shares is the controlling party, no? Ah, but then, I didn't graduate from Wharton and this is one of those complex deals that only accountants, CEO's, MBA's, money speculators1 and attorneys can come up with under the whacky IRS code.

What a wonderful business radio has become.

-9-

 

[SirRoxalot]

Preview

Rumor has it that ABCitadel will bring in Alexander Haig so someone will be "in control".

Farid's responsibilities will be redirected toward micromanagement of properties. He'll become known as Micro Farid.

Judy Ellis will be given the task of reprogramming distinctly separate group of radio stations, including replacing successful morning shows with Opie and Anthony. That group of stations will be referred to as Ellis Island.

 

[Element9]

Re: Preview

Rumor has it that ABCitadel will bring in Alexander Haig so someone will be "in control".

Farid's responsibilities will be redirected toward micromanagement of properties. He'll become known as Micro Farid.

Judy Ellis will be given the task of reprogramming distinctly separate group of radio stations, including replacing successful morning shows with Opie and Anthony. That group of stations will be referred to as Ellis Island.

Are you sure you're not related to Clip Smith? ;D It was, nonetheless, a funny post.

-9-

 

[SirRoxalot]

Per the Consultant...

...Just trying to keep it light, tight, and bright!