Citadel Communications to Acquire Four Radio Stations in Lafayette for $8.5 Million; Acquisition Positions Citadel as Market's Top Radio Broadcaster.LAFAYETTE, La. and LAS VEGAS--(BUSINESS WIRE)--November 16, 1999-- Mid-sized market radio broadcaster Citadel Communications
Citadel Communications is a Bronxville, NY-based broadcaster that owns 4 television stations, including: DMA Rank Market Station ... Corporation (Nasdaq: CITC CITC Communications and Information Technology Commission (Saudi Arabia) CITC Cottage Industry Technology Center CITC Canadian Institute of Travel Counsellors CITC Cook Inlet Tribal Council (Anchorage, Alaska) ) announced today it had signed a definitive agreement to acquire the assets of KSMB-FM and KDYS-AM from KSMB/KDYS Radio Broadcasting The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Company and the assets of KVOL-AM/FM from KVOL Radio Broadcasting Company - all in Lafayette, Louisiana Lafayette is a city on the Vermilion River in Lafayette Parish, in the U.S. state of Louisiana. [1] [2] Lafayette is the parish seat. As of the 2000 census, the city had a total population of 110,257; a 2004 census estimate put the metro area's population at - for $8.5 million. Citadel entered the Lafayette market, the nation's 97th largest, earlier this year with the purchase of KRRQ-FM, KNEK-AM/FM and KFXZ-FM. After completing today's purchase, Citadel will be Lafayette's largest radio broadcaster with three of the top-five rated stations (according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Spring 1999 Arbitron ratings). Commenting on the transaction, Citadel Chairman and Chief Executive Officer, Larry Wilson, stated, "These additions to our Lafayette station group will help broaden the cluster's attractiveness to advertisers, improve its operating efficiency and expand opportunities for growth through new station development. We're excited about the possibilities, and look forward to building on the success these stations have already generated to create a powerhouse radio cluster." Completion of the transaction, expected to close near the end of the first quarter of 2000, is subject to FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. approval and other customary closing conditions. Michael J. Bergner of Bergner & Co. was the broker in the transaction. Citadel is a radio broadcasting company that, upon completion of pending transactions, will own or operate 114 FM and 52 AM stations concentrated in 34 markets. This news announcement contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Words such as "will expand", "will improve" or "will help" are intended to identify such forward-looking statements. Key risks are described in Citadel's reports filed with the U.S. Securities and Exchange Commission. Readers should note that these statements may be impacted by several factors, including economic changes and changes in the radio broadcast industry generally and, accordingly, Citadel's actual performance and results may vary from those stated herein and Citadel undertakes no obligation to update the information contained herein. |
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