While Citadel continues to work out it’s reorganization plan to dig out of debt, Disney/ABC is taking steps to make sure that any bankruptcy procedures or terms ensure that certain intellectual property stays with Disney/ABC. Citadel bought ABC’s major market radio stations and syndicated radio network in a $2.7 billion deal back in 2006, a transaction that in the wake of the economic downturn, became a major contributor to the company’s decision to file Chapter 11. Citadel and ABC are said to be working together on new terms, but ABC is making sure that the new terms do not include loss of iconic brands and websites tied to long-time call letters that are still in use on ABC television stations, like WABC, KABC and many others.
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