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Disney Announces Details of ABC Radio Spinoff/Merger

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  • Disney Announces Details of ABC Radio Spinoff/Merger

    On Friday, the Walt Disney Company announced the terms of the previously announced deal to sell its ABC Radio Holdings to Citadel Broadcasting.

    At the close of business on June 6, 2007, Disney shareholders will receive shares of the newly spun off ABC Radio Holdings company, which will then be immediately sold to Citadel. As the end result, Disney shareholders will receive approximately 0.0766 shares of Citadel stock for each share of Disney stock they own. The entire transaction is expected to be completed on June 12th.

    The deal only affects Disney's ABC Radio group. Disney will retain ownership of ESPN Radio and Radio Disney.

    Source: MarketWatch
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  • #2
    Re: Disney Announces Details of ABC Radio Spinoff/Merger

    does the deal include klos?

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    • #3
      Re: Disney Announces Details of ABC Radio Spinoff/Merger

      Originally posted by disneyfan07 View Post
      does the deal include klos?
      Yes, and its Los Angeles "sister station" KABC AM 790, KGO 810 San Francisco, and all other Disney/ABC "O&O" (owned and operated) stations around the country. ABC Radio News too.

      KSPN (ESPN Radio 710) operates out of the same building as KABC/KLOS in the Culver City area...and the local Radio Disney outlet - AM 1110 (mostly a computer, with sales and office staff) is housed there too...They'll likely be looking for a new place...

      --Barry
      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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      • #4
        Re: Disney Announces Details of ABC Radio Spinoff/Merger

        May 26th - Tommy2.Net (the biggest change for employees)

        Yesterday Citadel and the Walt Disney Company announced that the merger/takeover of ABC Radio will be final on June 12th. Citadel will become the owner of all ABC stations with the exception of ESPN & Radio Disney. One of the biggest changes it will present ABC Radio employees is having to give up their Silver Pass that provides free entrance to the Walt Disney Theme Parks and a generous 35% discount.

        http://tommy2.net/content/?p=1624

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        • #5
          Re: Disney Announces Details of ABC Radio Spinoff/Merger

          Originally posted by Tommy2 View Post
          One of the biggest changes it will present ABC Radio employees is having to give up their Silver Pass that provides free entrance to the Walt Disney Theme Parks and a generous 35% discount.
          Ouch! That's more insulting than getting kicked out of your own building on La Cienega!
          "If you don't know how to draw, you don't belong in this building" - John Lasseter 2006

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          • #6
            Re: Disney Announces Details of ABC Radio Spinoff/Merger

            Now maybe Mark and Brian can go back to how funny they used to be!!!
            PirateMunkee

            Visit My Horror Designs Store!!!

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            • #7
              Re: Disney Announces Details of ABC Radio Spinoff/Merger

              I just got my shareholder's prospectus and it is alot to read! And honestly, i am just trying to wrap my head around it! Even in short defined form, i kinda don't get it.

              hmm, okay, so Disney is selling all of its Radio holdings including Radio Disney? I am lost!
              Disney is the only stock i own
              It was a gift from my mom for being accepted into the Disney College Program!








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              • #8
                Re: Disney Announces Details of ABC Radio Spinoff/Merger

                Originally posted by Mineux View Post
                I just got my shareholder's prospectus and it is alot to read! And honestly, i am just trying to wrap my head around it! Even in short defined form, i kinda don't get it.

                hmm, okay, so Disney is selling all of its Radio holdings including Radio Disney? I am lost!
                Disney is the only stock i own
                It was a gift from my mom for being accepted into the Disney College Program!
                I just got my prospectus too. Whew.

                Here's the simple version:

                Multiply the number of Disney shares you have by 0.0766. This is how many shares of Citadel stock you'll receive. Any fractional portion (the number to the right of the decimal place) will be multiplied by Citadel's price per share (currently 8 bucks and change) at the close of business on 6/6. You'll receive a check for that amount.

                Congrats on your Disney College Program. Welcome to the wonderful world of high finance.
                Follow me on Twitter and Facebook.

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                • #9
                  Re: Disney Announces Details of ABC Radio Spinoff/Merger

                  In the fallout of the ABC Radio spinoff, MediaBuyerPlanner.com is reporting that John Hare, president of ABC Radio, will not stay on with the company.

                  http://www.mediabuyerplanner.com/200...ident-to-exit/
                  Follow me on Twitter and Facebook.

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