Citadel Places 11 Stations In Trust

[EvanJ]

www.radioandrecords.com/Newsroom/2006_03_03/citadelplaces.asp

Friday, March 3, 2006
Citadel Places 11 Stations In Trust

Citadel Broadcasting today divested 11 stations — KARN-FM, KPZK-FM & KVLO-FM/Little Rock; KNEK-FM/Lafayette, LA; WCLZ-FM & WCYI-FM/Brunswick-Lewiston (Portland), ME; WYLZ-FM/Saginaw, MI; KBZU-FM/Albuquerque; WWLS-FM & KINB-FM/Oklahoma City; and WMGL-FM/Charleston, SC — to The Last Bastion Station Trust LLC, an entity headed by Media Venture Partners broker Elliot Evers. Evers has been directed to sell the stations to third parties and, pending such sales, to operate the stations independently from citadel. By placing the 11 stations in a trust, Citadel lowers its market count to seven in Little Rock, plus ABC Radio's KDIS-FM; four in Lafayette; four in Portland, ME; seven in Albuquerque; five in Oklahoma City; and six in Charleston, SC. Citadel has not specifically stated the reason for placing the stations in a trust.

— Adam Jacobson, R&R Management/Marketing/Sales Editor