For Disney, ESPN & ABC News are the Gems
by Katy Bachman
For Citadel Broadcasting, buying a 48 percent stake in ABC Radio, which included long-established radio outlets in eight of the top 10 markets and ABC Radio Networks, was like nabbing the crown jewels.
The $2.7 billion deal, announced last week, vaults Citadel’s station portfolio—the broadcaster had concentrated on middle-market stations—into the ranks of the big boys.
But for Disney, a company that has always pursued a brand-over-bulk strategy, the branded network content and 50 radio outlets it is keeping are the real gems.
Full Story: http://www.mediaweek.com/mw/news/tvstations/article_display.jsp?vnu_content_id=1001995781