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Clear Channel would consider Disney radio buy- marketwatch- 6/30/05

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  • Clear Channel would consider Disney radio buy- marketwatch- 6/30/05

    Clear Channel Radio Chief Executive John Hogan said in an interview Thursday that the company would be interested in Walt Disney Co.'s radio group if the stations are put up for sale.

    "We have, and will continue to have, a very keen interest in improving our portfolio," Hogan said. "There are a number of stations that Disney (DIS: news, chart, profile) owns that we could very easily add to our existing portfolio, and do very well with.

    "The question is, at what price? We have a long history of having a very responsible financial model that we apply to potential purchases, and if we could do it, and have it make sense, we would certainly be interested," said Hogan.

    Disney is widely believed to be interested in selling the stations, which could attract such suitors as Emmis Communications (EMMS: news, chart, profile) , Entercom Communications (ETM: news, chart, profile) , Cox Radio (CXR: news, chart, profile) and Citadel Broadcasting (CDL: news, chart, profile) .

    During Disney's quarterly earnings conference call in May, CEO-elect Bob Iger told analysts: "As we've said about a number of our assets, we are always open to looking at possibilities of either buying or selling assets... We are not going to comment specifically, though, as to whether we are looking to buy or sell radio properties at this point."

    Disney owns stations in such markets as New York, Los Angeles, Chicago, San Francisco, Washington D.C. and Dallas.
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