Young, Broadcasting, Allbritton, News Press-Gazette, Citadel and Cedar Rapids Television were among the broadcasters that successfully negotiated new retransmission consent contracts prior to year’s end.
It’s “good-bye Genie Bra” infomercials in the 7 PM news slot as Citadel Communications takes over the beleaguered WLNE in May. The company’s CEO, Philip Lombardo, says his team is getting ready for a major overhaul, rebuilding programming, equipment and morale.
Phil Lombardo small TV group picks up the ABC affiliate for just $4 million. But WLNE’s previous owner Kevin O’Brien calls the sale “the most outrageous, flawed asset auction in the history of television.” Citadel’s CEO says much work lies ahead at the station.
Cumulus said Thursday it has agreed to acquire Citadel in a cash-and-stock transaction that values Citadel at between $2.4 billion and $2.5 billion. Pending approval of government regulators and Citadel shareholders, the deal would give Cumuluis 572 stations in around 120 markets, including eight of the top 10, as well as the syndication business Citadel acquired a few years back in its acquisition of ABC Radio properties from Walt Disney Co.
