Corporate History
Citadel was founded in 1984, and at that time was formed as a limited partnership, Citadel Associates Limited Partnership (CALP). In 1990 we formed Citadel Associates Montana Limited Partnership (CAMLP) for the purpose of owning and operating stations in Montana, that were formerly owned by CALP. Citadel Broadcasting Company was incorporated in 1991, and in 1992, acquired all of the radio stations then owned or operated by CALP and CAMLP.
In June 2001, affiliates of Forstmann Little & Co. acquired our predecessor company from its public shareholders for an aggregate purchase price, including the redemption of debt and exchangeable preferred stock of approximately $2.0 billion. Our operating subsidiary, Citadel Broadcasting Company, owns and operates radio stations and holds Federal Communications Commission (FCC) licenses in Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Idaho, Indiana, Iowa, Louisiana, Maine, Massachusetts, Michigan, Nevada, New Hampshire, New Mexico, New York, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Utah and Washington.
Citadel was founded in 1984, and at that time was formed as a limited partnership, Citadel Associates Limited Partnership (CALP). In 1990 we formed Citadel Associates Montana Limited Partnership (CAMLP) for the purpose of owning and operating stations in Montana, that were formerly owned by CALP. Citadel Broadcasting Company was incorporated in 1991, and in 1992, acquired all of the radio stations then owned or operated by CALP and CAMLP.
In June 2001, affiliates of Forstmann Little & Co. acquired our predecessor company from its public shareholders for an aggregate purchase price, including the redemption of debt and exchangeable preferred stock of approximately $2.0 billion. Our operating subsidiary, Citadel Broadcasting Company, owns and operates radio stations and holds Federal Communications Commission (FCC) licenses in Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Idaho, Indiana, Iowa, Louisiana, Maine, Massachusetts, Michigan, Nevada, New Hampshire, New Mexico, New York, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Utah and Washington.