LAS VEGAS — The long-awaited rumors of Citadel Broadcasting’s “pre-arranged bankruptcy” plan are now reality. Several sources are reporting the company — which owns 224 stations, including 4 in Syracuse — officially filed for Chapter 11 bankruptcy protection this morning.
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Citadel Broadcasting could be forced to file for Chapter 11 bankruptcy protection early next year, unless it can form a deal with creditors by mid-January. The owner of more than 200 radio stations — including four in Syracuse — admitted that possibility in a quarterly filing with the U.S. Securities and Exchange Commission on Friday. 
Stations all over the country have been paying tribute to Michael Jackson, since the news broke of the singer’s sudden death at the age of 50 on Thursday. Several in Central New York were among them, including at least two that threw out their regular formats to play the King of Pop’s hits exclusively. 
New York City-based personality Robin Marshall, who calls Syracuse’s Lite Rock 105.9 (WLTI) the flagship station for her “Jayne” show, is picking up some steam in the affiliation game.
Citadel Broadcasting’s first quarter financial report for 2009 looks no better than Regent’s — the company posted a 22.9% decrease in revenue compared to last year, and it declared that it will not be offering quarterly earnings calls or earnings-related press releases at all this year.
NEW YORK CITY — The New York Stock Exchange ticker symbol “CDL” will be up for grabs soon. The NYSE has announced it will be taking Citadel Broadcasting off the exchange by the end of the week.
SYRACUSE — Nearly four months after longtime WLTI morning host Dave Allen was let go, it appears Lite Rock 105.9 has a new permanent morning show team in place. It’s the syndicated Bob & Sheri show.
SYRACUSE – Lite Rock 105.9 (WLTI) has filled the morning drive vacancy created by the dismissal of Dave Allen earlier this year, and it has signed with a syndicated talent for the midday shift.
LAS VEGAS – Citadel Broadcasting, owner of four Syracuse radio stations, is a step closer to being delisted from the New York Stock Exchange. The company, which was first threatened with delisting in September, now has 45 days to submit a turnaround plan – but the NYSE doesn’t have to accept it. It’s only a few days later than last year, but the “All-Christmas Music” battle has started in Syracuse. Galaxy’s Sunny 102.1 (WZUN) in Syracuse and Mix 102.5 (WUMX) in Utica have made the switch. Correcting our earlier report, it appears Y94FM’s all-Christmas programming is only available via webcast. |
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