Can Citadel Broadcasting survive?

[Sean Smyth]

Garrett Wollman <wollman@bimajority.org> wrote:
> <<On Sat, 1 Mar 2008 12:07:29 -0500, kvahey@comcast.net said:
> 
> > 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.
> 
> > I guess in retrospect Disney saw it coming and bailed out.
> 
> I don't think that's necessarily the case.  I don't doubt for a
> moment
> that ABC Radio's financial position was made significantly worse by
> the separation from the rest of ABC.  There weren't a whole lot of
> economies created in the Citadel merger, since Citadel was mostly a
> medium-market group and ABC Radio was exclusively a large-market
> player -- worse than that, a large-market player with mostly
> standalone (1 A/1 F) operations in major markets where all the major
> competitors have clusters.

This baffled me as well. How does WABC (AM) work without being tied
into a strong TV station such as WABC-TV? Surely, it can, but it's
nowhere near as efficient or strong, one would think.


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