Citadel Booted from NYSE, Others Imperiled
Media Post, February 27, 2009
By Erik Sass
After a steep decline in its stock price, Citadel Broadcasting will be de-listed by the New York Stock Exchange. Like some other big media companies, Citadel's financial woes come close on the heels of a major acquisition -- the $2 billion purchase of ABC Radio in June 2006. This highly leveraged transaction turned out to be poorly timed.
Free Press is a national, nonpartisan organization working to reform the media. Free Press does not support or oppose any candidate for public office. Through education, organizing and advocacy, we promote diverse and independent media ownership, strong public media and universal access to communications.
This article is copyrighted material, the use of which has not been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond fair use, you must obtain permission from the copyright owner.
