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FCC Approves Citadel/Disney Deal

The FCC approved Citadel Broadcasting’s acquisition of 24 major-market Disney/ABC Radio stations.

The FCC approved Citadel Broadcasting’s acquisition of 24 major-market Disney/ABC Radio stations.

Citadel will spin off 11 in seven markets to stay within the local ownership limits. It will issue stock to current Disney shareholders, resulting in a transfer of control of Citadel. The deal was valued at around $2.7 billion in early 2006 when it was announced.

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