musicradio77
09-02-2005, 01:08 PM
From Radio & Records:
Report: ABC Radio Sale Talks Continue
The long-rumored sale of ABC Radio's O&Os by parent Walt Disney Co. is progressing slowly, with talks with "prospective suitors" Entercom, Emmis and Citadel ongoing, Reuters reports, citing "sources close to the sale process."
Reuters says Disney is putting together audited financial information on ABC's radio stations, a move it needs to complete before seeking final bids for the stations. As a result, those final offers could surface in late October, the unnamed sources told the news organization.
Disney plans to divest the ABC Radio stations but likely keep ESPN Radio and Radio Disney. The company would then merge the stations into the winning bidder's company, with Disney getting 50% ownership, sources told Reuters.
None of the companies involved have offered comments regarding the talks surrounding a possible sale of the ABC Radio O&Os.
Report: ABC Radio Sale Talks Continue
The long-rumored sale of ABC Radio's O&Os by parent Walt Disney Co. is progressing slowly, with talks with "prospective suitors" Entercom, Emmis and Citadel ongoing, Reuters reports, citing "sources close to the sale process."
Reuters says Disney is putting together audited financial information on ABC's radio stations, a move it needs to complete before seeking final bids for the stations. As a result, those final offers could surface in late October, the unnamed sources told the news organization.
Disney plans to divest the ABC Radio stations but likely keep ESPN Radio and Radio Disney. The company would then merge the stations into the winning bidder's company, with Disney getting 50% ownership, sources told Reuters.
None of the companies involved have offered comments regarding the talks surrounding a possible sale of the ABC Radio O&Os.