Report: ABC Radio Sale To Citadel Close
January 23, 2006 at 4:43 AM (PT)
The NEW YORK TIMES reports that DISNEY is about to sell ABC RADIO to CITADEL for almost $3 billion. The TIMES says its sources say DISNEY rejected KOHLBERG KRAVIS ROBERTS and ENTERCOM to go into exclusive negotiations with CITADEL, with a deal possible within the next few weeks.
DISNEY's board meets MONDAY amidst rumors it will buy PIXAR ANIMATION STUDIOS, a purchase which would be aided by a cash infusion from a radio sale.