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Is Citadel going public again?

Tuesday, May 21, 2002

The New York Post is reporting that Citadel Communications has plans to go public. Barely a year after buying the radio broadcast group, Forstmann Little & Co., led by senior partner Teddy Forstmann, thinks it's time to sell. Forstmann Little is planning a July IPO from which it hopes to raise $500 million. Market analysts value Citadel's chain of 205 radio stations, which includes four in the Syracuse market, at between $2.5 and $2.75 billion.

Story source: New York Post

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