Can Citadel Broadcasting survive?

[kvahey@comcast.net]

Citadel is in big trouble. Their stock is down to $1.03 this morning
and yesterday they virtually eliminated the newsroom at WLS Chicago
and fired John Gambling at WABC. Revenue at WPLJ is reported to be
down 50% from a year ago.

The morning show at WLS is rumored to be the next to go at it appears
WLS will be forced to carry Imus who never did well in Chicago.

If they are making these kind of drastic cuts at the top it doesn't
bode well for their clusters in smaller markets.

I guess in retrospect Disney saw it coming and bailed out.