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Article: Citadel Broadcasting to Acquire 4 Radio Stations from Barnstable Broadcasting.
- Article from:
- Business Wire
- Article date:
- January 29, 2004
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Business Editors
NEW YORK--(BUSINESS WIRE)--Jan. 29, 2004
Citadel Broadcasting Corporation (NYSE:CDL) today announced that it has entered into an agreement with affiliates of Barnstable Broadcasting, Inc., to acquire 4 radio stations in Memphis, TN for $100 million. The agreement is subject to customary conditions and regulatory approval.
Farid Suleman, Chairman & CEO of Citadel said, "Memphis is a significant strategic acquisition for Citadel as it is a top 50 radio revenue market and also completes our Tennessee regional cluster, where Citadel currently owns radio stations in Knoxville, Nashville, Tri-Cities and Chattanooga." Mr. Suleman ...