Citadel slumped in Q3


Citadel Broadcasting CEO Farid Suleman made no bones about being disappointed in Q3 revenues, which were down 3.6% on a pro forma basis to 240.2 million. That included the acquisition of ABC Radio. The ABC stations were down 7%, but the core Citadel stations were down as well, just not as much. The one bright spot was ABC Radio Networks, where revenues rose 1.5 million to 48.3 million. Operating income on a pro forma basis was off by a bit over 10 million bucks to 92.3 million.