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Citadel to go public again

Thursday, June 06, 2002

Citadel Communications, a publicly traded company until it was purchased by Forstmann Little who then took it off the market last year, has filed an offering with the New York Stock Exchange to raise $575 million.

The SEC filing was not specific in terms of the number of shares being offered or the purchase price, but did note that each eligible director of the company will have an option to buy 50,000 shares once the price is set.

Citadel, which owns four radio stations in Syracuse, proposes to use the ticker symbol CDL.

Story source: Radio & Records

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