Associated Press, February 7, 2006
By Gary Gentile

The Walt Disney Co. said it will merge its ABC Radio network and 22 stations with Citadel Broadcasting Corp. in a deal valued at $2.7 billion.

Disney and Citadel will form a new company to be called Citadel Communications. Disney shareholders will own approximately 52 percent of the combined entity with Citadel shareholders owning the rest, the companies said Monday.

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