Even for the most jaded industry professionals, it's stunning to believe shares of one of the nation's largest radio station owners might trade for a single penny.
And yet that's exactly what has happened to ABC Radio owner Citadel Communications, a once-proud group operator destroyed by massive debt, epic mismanagement and a liberal political ideology often at odds with the company's still-successful and profitable conservative talk radio programming.
Citadel Stocks finish LOW.
Moderators: The People's DJ, David Paleg
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genlock
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Citadel Stocks finish LOW.
"Everyone Should be aware that you're just a screen grab away from infamy."
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Ace Purple
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Re: Citadel Stocks finish LOW.
I once owned stock in Citadel. Bought it in 2006, sold it in 2007 (at a loss) but wow I'm glad I unloaded it when I did...
On Twitter: @LouPickney
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Bob Campbell
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Re: Citadel Stocks finish LOW.
Just a question. What did Citadel's "liberal political ideology" have to with its collapse? The same thing Clear Channel's "conservative political ideology" had to do with its?
Or was it the things they have in common, debt and epic mismanagement?
Or was it the things they have in common, debt and epic mismanagement?
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genlock
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Re: Citadel Stocks finish LOW.
exactly!
Far left or far right will run off half your listeners.
The epic mis-management also helped.
Far left or far right will run off half your listeners.
The epic mis-management also helped.
"Everyone Should be aware that you're just a screen grab away from infamy."
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Ace Purple
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Re: Citadel Stocks finish LOW.
The deal with Disney didn't help things, either.
On Twitter: @LouPickney
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Force Commander
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Re: Citadel Stocks finish LOW.
Losing Paul Harvey might have had a big impact of late.
"We are the CC Borg. Lower your shields and surrender your broadcast stations. We will add your biological and creative distinctiveness to our own. Your broadcast personality will adapt to service us. Resistance is futile."