CITADEL SOLD FOR $2 BILLION

Investment Company Buys Radio Conglom,
Not University Of The Same Name

Investment company Forstmann Little & Co. announced today it had purchased Citadel for $2 billion. According to InsideRadio.com, CEO Larry Wilson will stay on, and the management structure will remain intact. The transaction was unanimously approved by Citadel's board of directors yesterday (1/15).

Citadel—which owns 214 radio stations in 50 markets—is the sixth largest radio company in terms of revenue, with $330.6 million.

Insiders say that the sale now of the company makes up for Wilson's missed chance at selling the company during the consolidation heyday. InsideRadio cited sources in the financial community who claimed that talks between Citadel and Clear Channel had led to nowhere, although talks between the two companies could neither be confirmed nor denied.

There were no indications at press time whether Forstmann Little planned to keep Citadel intact or sell it off when the market seemed right.

Citadel stock closed at $17.50 on Friday (1/12). News of the sale boosted the stock to $24.50 in early trading on Tuesday.

BACK TO RUMOR MILL

		UMG AND TIKTOK WORK IT OUT The kerfuffle is in the past. (5/2a) Check It Out Now LUCIAN SOUNDS OFF ON UMG/TIKTOK DEAL A breakdown from the boss (5/2a) Check It Out Now HITS LIST: HANGIN' OUT With extra relish (5/3a) Check It Out Now LIVE NATION POSTS (ANOTHER) RECORD QUARTER More butts in seats than ever before. (5/3a) Check It Out Now A POST-WALLEN AFFAIR A dynamic duo, y'all (5/3a) Check It Out Now
		THE NEW UMG Gosh, we hope there are more press releases. TIKTOK BANNED! Unless the Senate manages to make this whole thing go away, that is. THE NEW HUGE COUNTRY ACT No, not that one. TRUMP'S CAMPAIGN PLAYLIST Now 100% unlicensed!

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CITADEL SOLD FOR $2 BILLION

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