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
Recent Posts
- Radio’s New Invisible Competitor
- Which Radio Company Is Next?
- The Secret Lenders Waiting to Takeover Radio
- Make AI Recommend Your Station
- Why Radio Is Running from Radio
- Context-based Music Programming
- iHeart Layoffs a Warning Sign
- Selling Without Ratings
- Audacy’s Missing Middle Management
- Beating Digital Competitors