Citadel Restructures ABC Radio Deal

CITADEL announced late WEDNESDAY (11/22) that it has amended its deal to buy ABC RADIO from the WALT DISNEY CO. by reducing by $300 million the aggregate value of cash receivable by DISNEY, $100 million in a cash reduction and $200 million by upping the percentage of the merged company to be owned by DISNEY shareholders from 52% to 57%.

The company says that the deal is now scheduled for completion after MAY 31, 2007.