Citadel Closer to Bankruptcy

There are times when I can't tell which radio consolidator will go bankrupt first.

Clear Channel or Citadel.

Just recently Clear Channel's lenders were talking tough about letting the company go into Chapter 11. If that happened, the creditors would be making only pennies on the dollar.

Unfortunately, that may be their best deal. Pennies are better than nothing.

Now Citadel, the Fagreed Suleman radio group has dropped one shoe on the ground -- and you know what they say about the other one.

Now Citadel is covering its butt just in case they have bankruptcy on their mind.

After all, Citadel retained&hellip