[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

Citadel sales?

<<On Wed, 27 Aug 2003 15:22:44 -0400, "Dan Billings" <billings@suscom-maine.net> said:

> Scott's latest Northeast RadioWatch has an item on Citadel selling some
> stations in PA.  Is it unusual for one of the big groups to sell stations?
> Is there a particular reason for these sales or are they part of a trend?

I think the explanation for these sales is pretty clear, and was
mentioned in Scott's report: they were ``non-core assets'' (to use the
financial jargon).  Wall Street doesn't much care how many stations
you have, but it cares a great deal about how much return on
investment you can generate from them.  This is less of a concern for
smaller, closely-held groups, where the financial imperative is
expressed rather differently.

-GAWollman