Report: ABC Radio Sale Delayed To See What Other Deals Bring
October 26, 2005 at 6:28 AM (PT)
REUTERS is reporting that the sale of ABC RADIO has been slowed down so that parent DISNEY can watch how much SUSQUEHANNA's radio stations sell for and so that DISNEY can decide exactly which assets it will sell.
The report says that CUMULUS, which is part of the bid widely reported to be in the lead for SUSQUEHANNA, is also weighing an investment in ABC RADIO against reported interest from ENTERCOM, EMMIS, and CITADEL. As previously reported, the sale of ABC RADIO would take the form of a spinoff into a company at least half-owned by DISNEY shareholders for tax purposes.