Sunday, January 23, 2011

NY Times details planned Cumulus takeover of Citadel; Sunday Short

How incompetent is Citadel, run by a gaboo named Farid Suleman? The NY Times spells it out here.

And the idea of Cumulus corporate schmo's overseeing KGO, (a Citadel property) would be worthy of the circus. Bring out the clowns.

And the KNBR-KGO connection? OMG. The business is crazy.

*Follow me on Twitter
Posted by at
Labels:

5 comments:

  1. AnonymousJanuary 23, 2011 at 8:41 AM

    Boo-Hoo Citadel stockholders. Your making money,but merging into a monopoly would make more while stifling my radio enjoyment?
    Merging is one reason why inflation is amok. Screw them.

    ReplyDelete
  2. AnonymousJanuary 23, 2011 at 9:33 AM

    I'd like to know if Walt Disney still owns a minority interest in Citadel.

    ReplyDelete
  3. AnonymousJanuary 24, 2011 at 12:52 PM

    No, Walt Disney doesn't own part of Citadel, but Citadel does have Mickey Mouse corporate leadership. JW

    ReplyDelete
  4. AnonymousJanuary 24, 2011 at 5:47 PM

    I'm not a Citadel shareholder and yet reading the NY article enraged me so much. Farid Suleman sounds like one of the worst corporate human beings on the planet. No wonder Mickey Luckoff resigned!

    ReplyDelete
  5. AnonymousJanuary 25, 2011 at 12:49 PM

    If somebody actually owns the company they run, they can do whatever they want as far as I am concerned. However, Suleman doesn't directly own even one share of stock. Yet, he gets to make decisions on behalf of shareholders who own a great deal of stock. There's a similar situation with the Roberts family at Comcast. Brian Roberts is light years better than Suleman in terms of competence, human decency and looking out for shareholder interest. Still, with just 3 percent of the stock in the company, he controls everything in the nation's largest media company (Comcast/NBC), because his "super-voting" shares count 15 times as much as everybody else's. If they issue more stock, the ratio increases so as to maintain the voting control. The shareholders can never bounce him, no matter what he does or fails to do. The Roberts family got into that position by leveraging a single cable system in Mississippi (which they actually did own) through a long, long series of well-timed mergers and acquistions, but without diluting their control. JW

    ReplyDelete

Subscribe to: Post Comments (Atom)