Disney to Announce Sale of ABC Radio Next Week

(World Net Daily) – ABC Radio, the home of Sean Hannity and other popular talk hosts and some of the biggest and most well-known radio stations in the country, will be cut loose by parent Disney Corp. as early as next week. Disney has been in serious talks with Citadel Broadcasting to sell its ABC Radio division as a way of improving its bottom line. Industry analysts say the deal will be close to a $3 billion transaction and involved the assumption of significant debt and operating losses currently experienced by the radio division. The deal may not include ESPN Radio and some Disney-branded stations that are part of the ABC Radio division now. It would also not include the ABC News radio franchise. The transaction, however, would include most of the 72 stations currently operating under the ABD Radio banner.