Children's Broadcasting Corporation Announces Termination of Agreement with ABC Radio Networks.MINNEAPOLIS--(BUSINESS WIRE)--July 30, 1996--Children's Broadcasting Corporation (CBS (Cell Broadcast Service) See cell broadcast. , Nasdaq NM: AAHS AAHS American Aviation Historical Society AAHS Aromatic Acid: H+ Symporter AAHS American Association for Hand Surgery AAHS Athens Area High School (Pennsylvania) AAHS Ambridge Area High School (Pennsylvania) ) today announced that ABC Radio ABC Radio is a broadcasting unit of Citadel Broadcasting Corporation.[1] ABC Radio was, from 1945 until 2007, the division of the American Broadcasting Company (ABC) focused on AM radio and FM radio broadcasting. Networks, Inc. (ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. ) has terminated its operations agreement with CBC (1) (Cell Broadcast Center) See cell broadcast. (2) (Cipher Block Chaining) In cryptography, a mode of operation that combines the ciphertext of one block with the plaintext of the next block. . The agreement had provided for the provision of various services by ABC in connection with the sale of CBC national advertising, CBC affiliate development, research, marketing and promotion. Christopher T. Dahl, president of CBC, in commenting on the termination, stated: "We believe the agreement with ABC, which has indicated it intends to independently examine opportunities in children's radio, presented a conflict for ABC/Disney." Also, CBC announced on July 26, that it had engaged Southcoast Capital Corporation to assist in seeking strategic partners to maximize shareholder value. The Company currently has 5,629,858 shares of Common Stock outstanding, exclusive of warrants and options. The Company owns ten radio stations which had an acquisition cost of $23 million, but which CBC believes to have a significantly higher value currently, due to station improvements, appreciation of radio station values in general and other factors. CBC's Radio AAHS(R) format, which is broadcast via satellite from its flagship station WWTC-AM in Minneapolis, is available to approximately 40 percent of the country including availability through pending station acquisitions in Philadelphia and Chicago. Radio AAHS(R) has an affiliated network of 30 stations across the country, including company owned or operated stations in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Los Angeles, Dallas, Detroit, Minneapolis, Denver and Kansas City. Children's Broadcasting Corporation is an award-winning programming mix of music, news, stories and games, produced and distributed for children age 12 and under and their parents. It is the only live, 24-hour radio network for children and their families in the United States providing programming that includes shows from Disneyland, Walt Disney World Noun 1. Walt Disney World - a large amusement park established in 1971 to the southwest of Orlando Orlando - a city in central Florida; site of Walt Disney World and "What's Up? with Evan Roberts" from Long Island, NY. Radio AAHS(R) multimedia include: a web site at http://www.radio-aahs.com, an interactive phone system at 1-800-552-2470; and soon, an Internet presence with real-time Radio AAHS(R) audio through NetRadio at http://www.netradio.net. CONTACT: Children's Broadcasting Corporation Christopher T. Dahl or Joy Plaschko, 612/330-9524 |
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