DISNEY RIVAL SELLS STATIONS; COMPETITOR CALLS IT QUITS ON KIDS FORMAT.Byline: Dave McNary Daily News Staff Writer The might of entertainment giant Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. has forced a midsize Minneapolis network specializing in children's radio programming to sell its 13 AM radio stations for $72.5 million. Children's Broadcasting Corp., in announcing the sale Friday to Global Broadcasting Global Broadcasting LLC. is a broadcasting company in the United States. Global is based in Delaware and is jointly owned and operated by media veterans Kevin O'Brien and Robinson Ewert. Co. Inc., said it was compelled to shed the assets because of Disney's aggressiveness in starting up a rival network. It was the latest blow in a yearlong feud, dating back to CBC's termination of a partnership with Disney on grounds that Disney's 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. unit was exploring opportunities in children's radio. 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. sued Disney and ABC in September for allegedly stealing its ``Radio Aahs'' format and confidential information Noun 1. confidential information - an indication of potential opportunity; "he got a tip on the stock market"; "a good lead for a job" steer, tip, wind, hint, lead gathered during the eight months when ABC was national advertising representative for Aahs. When Burbank-based Disney disclosed a month ago it would expand the four-station Radio Disney This article may contain original research or unverified claims. Please help Wikipedia by adding references. See the for details. This article has been tagged since August 2007. operation into a national network, CBC accused Disney of trying to copy its format. Industry executives have estimated Disney is willing to spend more than $150 million on the expansion, noting it will place the Disney brand into one of the few media areas in which it does not currently have a significant presence. CBC, which started its network in 1992, said it would continue to operate through affiliates and said the proceeds from the sale would help it develop further distribution of Aahs. The network is heard over 30 stations, covering 40 percent of the United States. ``CBC has been forced to alter its operations because of ABC-Disney's method of entering the children's radio market'' Christopher T. Dahl, CBC's president and chief executive, said in a statement. ``In the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile , the company will pursue to its conclusion the ABC-Disney litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. while exploring other options.'' Wall Street applauded CBC's move, however. Its stock rose 62 percent, gaining $2.25 to $5.875 after hitting $6.50 - the first time it has been over $6 since January. The issue was the largest percentage advancer on the major U.S. exchanges and 942,100 shares changed hands, more than 30 times its three-month average. CBC had been trading over $8 last summer before it sued Disney. CBC has not turned a profit since it began broadcasting. It lost $2.78 million on sales of $1.15 million in the first quarter. Furman Selz analyst Stewart Halpern said Disney's move into children's radio makes sense, given its success in reaching families and children. ``Disney is the most powerful brand in this category, and that gives it a huge advantage over competitors,'' he said. ``It's already in so many other businesses.'' The stations being sold include 10 that are part of the Aahs network: WJDM-AM (1660) 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 ; KPLS-AM (830) in Los Angeles; WAUR-AM (930) in Chicago; WPWA-AM (1590) in Philadelphia; WCAR-AM (1090) in Detroit; KAHZ-AM (1360) in Dallas-Fort Worth; WWTC-AM (1280) in Minneapolis; KIDR-AM (740) in Phoenix; KKYD-AM (1340) in Denver; and KMUS-AM (1380) in Tulsa, Okla. CBC is also selling KTEK-AM (1110) in Houston; WZER-AM (540) in Milwaukee; and KYCR-AM (1570) in Minneapolis. |
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