Citadel Broadcasting to Exchange Radio Stations with Regent Communications.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 9, 2004 Citadel Broadcasting
Citadel Broadcasting Corporation NYSE: CDL is a Las Vegas, Nevada based broadcast holding company. Investment house Forstmann Little & Company owns 27% of Citadel. Corporation (NYSE NYSE See: New York Stock Exchange :CDL 1. CDL - Computer Definition anguage. A hardware description language. "Computer Organisation and Microprogramming", Yaohan Chu, P-H 1970. 2. CDL - Command Definition Language. Portion of ICES used to implement commands. Sammet 1969, p.618-620. 3. ) today announced that it has entered into an agreement with affiliates of Regent Communications Regent Communications, Inc. NASDAQ: RGCI is an American radio broadcaster, based in Cincinnati, Ohio, which owns approximately 70 radio stations in small and medium radio markets in the United States. , Inc., to exchange five Citadel stations in Bloomington, IL for six Regent stations in the Lancaster, PA and Erie, PA markets. The agreement is subject to customary conditions and regulatory approval. Farid Suleman, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Citadel said, "Lancaster is a strategic acquisition for Citadel as it strengthens our market position in Lancaster/Harrisburg/York, a top 100 market, and also enhances our Pennsylvania cluster." Mr. Suleman added, "The Erie stations complement the synergistic opportunities among the Buffalo-Erie-Niagara Falls region." The Citadel stations included in the transaction are WBNQ(FM), WJBC(AM), WBWN(FM),WTRX-FM and WJEZ(FM), Bloomington, IL. The Regent stations included in the transaction are WIOV(AM) and WIOV-FM, Lancaster, PA, WXTA(FM), WRIE(AM), WQHZ(FM) and WXKC(FM), Erie, PA. The parties have entered into reciprocal Time Brokerage Agreements effective immediately. Citadel Broadcasting Corporation is a radio broadcaster focused primarily on acquiring, developing and operating radio stations throughout the United States. The Company owns and operates 149 FM and 59 AM radio stations in 44 markets, including clusters of four or more stations in 34 markets. |
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