The Justice Department has killed Citadel Communications Corp's planto sell four radio stations in State College, Pa.

Broadcasting & Cable, September, 1998

The Justice Department has killed Citadel Communications Corp's plan to sell four radio stations in State College, Pa., saying it would have given the would-be buyer control of about 46% of the radio advertising revenue there. Had the deal been consummated, business concerns in the State College market would likely have paid higher prices for radio advertisements," Joel I.

Klein, assistant attorney general for Justice's antitrust division, said in a statement last Thursday. The would-be buyer, Talleyrand Broadcasting Inc., already owns WZWW(FM) State College, which controls about 28% of the market's radio ad revenue, Justice said. Talleyrand and Citadel will continue to own and operate the stations they owned before the deal was abandoned. The stations involved...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.