Citadel is on the brink of bankruptcy.
It could happen within the next six months if CEO Farid "Fagreed" Suleman cannot win another stay of execution with anxious lenders.
That raises the question of what happens to Citadel stations if the company winds up in the hands of a bankruptcy court -- specifically, what's the fate of its most valuable component -- ABC?
Citadel paid sucker money to Walt Disney Company to the tune of about a billion dollars for ABC and the ABC Radio networks several years ago in what was a highly touted but little understood maneuver called a Reverse Morris Trust, (RMT).
It was all a&hellip
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