NEWS Federal Communications Commission 445 12th Street, S.W. Washington, D. C. 20554 This is an unofficial announcement of Commission action. Release of the full text of a Commission order constitutes official action. See MCI v. FCC. 515 F 2d 385 (D.C. Circ 1974). News Media Information 202 / 418-0500 Internet: http://www.fcc.gov TTY: 1-888-835-5322 For Immediate Release News Media Contact: March 22, 2007 Clyde Ensslin (202) 418-0506 FCC Approves Citadel/Disney Radio Transaction Washington, DC – The Federal Communications Commission today approved a transaction by which Citadel Broadcasting Corporation (“Citadel”) will acquire 24 major-market radio stations currently licensed to subsidiaries of The Walt Disney Co. (“Disney”). As compensation for the purchase, Citadel will issue stock to the current Disney shareholders, resulting in a transfer of control of Citadel. That transfer of control will result in the loss of Citadel’s grandfathering rights to continue to own 11 stations in seven markets. To address that issue, the Order approves an application for consent to assign the licenses for those stations to an insulated divestiture trust. Action by the Commission, March 22, 2007, by Memorandum Opinion and Order and Notice of Apparent Liability (FCC 07-41). Chairman Martin, Commissioners Copps, Adelstein, Tate, and McDowell. Separate statements issued by Commissioners Copps, Adelstein, and McDowell. -- FCC -- Media Bureau staff contacts: Tom Hutton or Taft Snowdon at (202) 418-2700 TTY: (202) 418-7172