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ABC Radio Sale A Done Deal?

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  • ABC Radio Sale A Done Deal?

    Friday, Dec. 2, 2005ABC Radio Sale A Done Deal?
    Sources close to the pending sale of ABC Radio tell R&R that Entercom will likely emerge as the victorious bidder for its assets. Insiders tell R&R that an official announcement regarding the sale of Disney-owned ABC Radio could come as early as today. No further details were available at press time. Disney has said that the Radio Disney and ESPN Radio assets will not be included in any divestment scenarios
    "If you don't know how to draw, you don't belong in this building" - John Lasseter 2006

  • #2
    Re: ABC Radio Sale A Done Deal?

    Dec. 08, 2005

    Dis radio price off the dial for two

    NEW YORK -- As the Walt Disney Co. continues to evaluate a possible sale of some of its radio assets, two broadcasters that originally were in the running said here Wednesday that the asking price was too high for them. Speaking at the UBS Global Media Conference, Cumulus Media chairman and CEO Lew Dickey said his company's takeover proposal was "hundreds of million dollars off," and Emmis Communications president, chairman and CEO Jeff Smulyan said, "We are not in the process at this point." Industry observers have said that Entercom Communications and Citadel Broadcasting are the only bidders remaining in the auction. Reports have suggested that Disney might be looking for a bid of at least $2.8 billion. (Georg Szalai)
    "If you don't know how to draw, you don't belong in this building" - John Lasseter 2006

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    • #3
      Re: ABC Radio Sale A Done Deal?

      Jan. 21, 2006

      Disney nears decision on sale of ABC Radio

      PHILADELPHIA -- The Walt Disney Co. could decide on a buyer for its ABC Radio assets within as little as a week or two, sources close to the deal said, and private equity firm Kohlberg Kravis Roberts & Co. and radio broadcaster Entercom Communications Corp. are likely to bid against each other to determine a winner. The protracted sale of ABC Radio has drawn several other bidders, including radio rivals Emmis Communications Corp., Cumulus Media Inc. and Citadel Broadcasting Corp. But Emmis pulled out of the process last year, and Disney eliminated Cumulus after saying its $2.6 billion offer was too low. Citadel remains in the running, but sources Thursday said ABC Radio seems more likely to go to either KKR or Entercom. ABC Radio's total value could come in somewhere between $2.6 billion and $2.9 billion, sources said, and one of them believed KKR's bid was currently higher than Entercom's. (Reuters)
      "If you don't know how to draw, you don't belong in this building" - John Lasseter 2006

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      • #4
        Re: ABC Radio Sale A Done Deal?

        Originally posted by ALIASd
        Jan. 21, 2006

        Disney nears decision on sale of ABC Radio

        PHILADELPHIA -- The Walt Disney Co. could decide on a buyer for its ABC Radio assets within as little as a week or two, sources close to the deal said, and private equity firm Kohlberg Kravis Roberts & Co. and radio broadcaster Entercom Communications Corp. are likely to bid against each other to determine a winner. The protracted sale of ABC Radio has drawn several other bidders, including radio rivals Emmis Communications Corp., Cumulus Media Inc. and Citadel Broadcasting Corp. But Emmis pulled out of the process last year, and Disney eliminated Cumulus after saying its $2.6 billion offer was too low. Citadel remains in the running, but sources Thursday said ABC Radio seems more likely to go to either KKR or Entercom. ABC Radio's total value could come in somewhere between $2.6 billion and $2.9 billion, sources said, and one of them believed KKR's bid was currently higher than Entercom's. (Reuters)
        I wonder what, if anything, this will mean for the Disney-ABC "O&O" stations like KLOS, 790 KABC, and 710 KSPN ( and ESPN radio for that matter). I note that KSPN has not renewed contracts of some of its veteran sports guys...and what about ESPN radio and Radio Disney...
        God, grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.

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        • #5
          Re: ABC Radio Sale A Done Deal?

          Originally posted by Radiobarry
          I wonder what, if anything, this will mean for the Disney-ABC "O&O" stations like KLOS, 790 KABC, and 710 KSPN ( and ESPN radio for that matter). I note that KSPN has not renewed contracts of some of its veteran sports guys...and what about ESPN radio and Radio Disney...
          Friday, Dec. 2, 2005ABC Radio Sale A Done Deal?
          Sources close to the pending sale of ABC Radio tell R&R that Entercom will likely emerge as the victorious bidder for its assets. Insiders tell R&R that an official announcement regarding the sale of Disney-owned ABC Radio could come as early as today. No further details were available at press time. Disney has said that the Radio Disney and ESPN Radio assets will not be included in any divestment scenarios

          From R&R Street Talk:
          Are the Los Angeles Angels of Anaheim thisclose to acquiring Radiovisa's KMXE/Los Angeles of Anaheim? The Los Angeles Times says a deal is near, although the baseball team's contract with flagship KSPN/L.A. ends in two years.
          "If you don't know how to draw, you don't belong in this building" - John Lasseter 2006

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