Citadel plan to dig out from under its massive pile of debt is working its way forward, but Disney/ABC is taking steps to make sure that certain intellectual property stays with Disney/ABC.
Citadel bought ABC’s flotilla of major market radio stations back in 2006, a $2.7B deal right before the advertising market tanked in earnest, making the transaction a major contributor to the company’s Chapter 11 woes.
Citadel and ABC are said to be working together on new terms, but ABC is making sure that the new terms do not include loss of iconic brands and websites tied to long-time call letters that are still in use on ABC television stations, like WABC, KABC and many others.
