Citadel Broadcasting to explore divestitures; retains advisors

giovedì 13 dicembre 2007 21:51

Dec 13 (Reuters) - Radio broadcaster Citadel Broadcasting Corp CDL.N said it retained Credit Suisse Securities LLC and Deutsche Bank Securities Inc as financial advisors for the divestiture of certain assets.

The Las Vegas-based company expects gross proceeds of $75 million to $175 million over the next 12 to 24 months from the sale of certain stations that it was required to divest due to its acquisition of ABC Radio.

Citadel bought ABC Radio from Walt Disney Co (DIS.N: Quotazione) in the second quarter of 2007. (Reporting by Aditi Samajpati in Bangalore; Editing by Pratish Narayanan)