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turning out to be a pretty solid base building day
loaded up in the .03's! i'm ready for a run here!
I hate that. Add in the commission and you need 50% to break even.
fAt
All they would give me.
That is all they gave you or that is all you wanted?
i bought a whopping $39 worth of .030,,,,,,,im such a big spender.
Getting ready to make a move back up!
I sure want to grab some more shares here, but not sure if the 3’s are going to hold with all the pounding they are getting. Pretty much all sells so far.
Ol Detlab is as it again. "Prepare for Jumps".lol
its even more likely given the good financials that came out a few days ago.
No one knows for sure whether an appeal will be filed. If one is filed, it should retrace its previous trajectory in some shape or form.
Based on what the broad market participants believe, as I write this, there is roughly a 32% chance of this stock making to 10 cents and 68% chance of going to zero.
Thank you very much for the reply. So then if that appeal from that hedge fund comes to fruiton is there any chance that this can spark back up to say like .10 cents at least? I understand how volatile this is really since it is under a reorganization plan as of now but if the appeal comes do you think it could test recent highs?
To answer your question: Yes, there was a reason. A strong reason.
For detailed explanation, read on:
It was expected to follow a similar trajectory like Visteon.
People expected that there might be value in the stock-- the stock rose to like 50 cents-- then the value, if any, needless to say was assigned to the senior lendors (debt converted to equity) per the plan. The stock started falling. Fell by like 50% in 1 day from 40 cents to 20 cents.
There were a few hedge funds who bought common stock and pursuaded the judge (during the hearing where VSTNQ wanted to get out of Chapter 11) about the increased EPS (due to recovery of radio markets) and hence significant value accruing to the common stock holders. The judge didn't budge. The stock fell to like 2 cents.
As of now, there are some parties that say that Aurelius (one of the hedge funds interested and holding common stocks of CTDBQ) is preparing an appeal against the decision. This seems highly logical given the amount of effort Aurelius had already put into it earlier and ignoring that it can be considered sunk expesnses. Whether they actually file it is yet to be seen.
Some numbers for you:
Price after sping off from Disney ~ $6
Steady state price after filing chapter 11: around 2 cents
Highest price recently: ~50 cents
Current price: ~3 cents
I got a question for this board. I havent been following this too much but I saw the past pps chart and it looked like it hit .50 not too long ago. Is there any reason for that increase or was there none at all?
Ok what the hell is up with that sudden dive? Geese, thats weird!
ARCA keeps moving their ask up! Good sign they might let it go!
Going back up!With Rocket-Propelled Vengeance!
yep, they have a plan. Obviously someone is foreseeing a big boom in PPS down the line.Or are trying to buy enough to control the commons.
Yeah, ARCA... They put that wall at .039 and have been pushing this down and grabbing the cheapies. They are on a mission!
wow. 0308 im stunned to see that. I hope someone is buying.
I love that guy and his calls are not 1/2 bad, I must say ...
It gets really fun if you egg him on a little bit, LOL.
Nice grab... Looks like we are getting ready to head back to test those 4's!
I had to snap up some .031's......its just too good to pass up.
well you know that the financials are responsible for this rise. they are good. Also, I think its apparant the attornies are reviewing them with their radio experts to formulate a good appeals effort. As detlab2000 says, "Prepare for Jumps".
Right now maybe a good time to buy back in. I honestly would be very surprised to see this dip to .029 or even .03 this week.
ANY news of an appeal and this will pass by the 5’s… I am still holding some from the low 2’s that I decided not to flip, so I’m liking today’s action!
People's stops are being hit! Ah the big dive begins! I may buy more here.....or maybe just watch. I think this will go back to .039 and form a new base. Much like .029 did On friday. I think we'll see continued steps being formed this week. Getting back to near normal levels this week. Posibly .05 and higher.
Yeah, ARCA doesn't want it to get into the 4's. Maybe they want more at .035, then they will let it run again?
quite the battle @ .039 isnt it.
It will be interesting to see if this breaks into the .040 range today.
Need to bust through ARCA at .039 and we may fill that GAP to .05! (WISHFUL thinking I know)
yeah, you guessed it. Im in......already in the green.
IM thinking people know that the appeal is coming. Especially since the financials came out and they are pretty good. It gives the shareholder's attorneys a firm base to work from.
If any of you guys read the yahoo boards. You know that "prepare for Jumps" nutjob detlab2000. Well that guy has called so many of these rises on a number of Q stocks last year and this year. He was calling it on this one too. I dont know the guy but damn, He has a knack for this stuff. Plus it is fun watching him rile the shorters long winded posts with simple replys, "Prepare for Jumps".
Always cracks me up.
sigh,,,,was that a typo? .34 or .034?
Cause it aint falling at .034. I could handle a rise to .34!
Sorry... .034-.035... Last week we would get there and then fall. Today is obviously different!
TRENDmendous I need some clarification.
Do you mean .034-.035 or .34-.35?
?????HOPE THE INSIDERS ARE SCOOPING UP THESE CHEAPIES
NEWS BETTER THIS WEEK SO FAR ON THE Q'S
I've been looking all morning and still can't find any!
Sure is looking strong today... Looks like ARCA has a lot of shares to sell. They flashed 999 at .39 then dropped to 150.
If trading repeats itself, it will hit that .34-.35 wall and fall.
its climbing! Damnit! just one quick dive is all i ask!
crappy day for me,. good day for the stock.....didnt get a chance to flip....hopefully we get some good drama going by the nefarious JPM and make this tradable again.
Im thinking this has a good chance to deflate before closing. traders might not want to be in during the weekend.
BASTARDS! LOL
People are getting anxious. They are starting to sell at the bid and below....the Drop is starting! Please go to .020!
I am sitting at .34 with some if you want them! Buttheads, took 10K and dropped it!
DROP IT LIKE IT'S HARD! DROP IT LIKE IT'S HARD! I can only wish!
the good thing is. people are selling at the ask. thats what i do.
but that will last only so long before the selling drops to the bid side.
Even though there is a lot of ask slapping, there still does not appear to be much bid support (pretty thin). Could drop hard again!
yeah its RUNNING! and im not in it! damn! going to be a carbon copy of last friday,,,,,,hopefully next weeek will be the same as this week was.
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GAME OVER! TRADING STOPPED FOR CTDBQ BEFORE MARKET OPENING ON 6/04/10
BREAKING NEWS!!! (6/03/10)
After losing its battle to have a federal bankruptcy judge rework the Chapter 11 reorganization plan for Citadel Broadcasting, Aurelius Capital Partners has thrown in the towel and sold its shares. It says in an SEC filing submitted late Wednesday that it now owns no shares of Citadel.
Aurelius took a financial loss on its gamble that Citadel’s shares would be worth something. As previously reported, the investment funds managed by Aurelius paid over $1.2 million to acquire their 16.7 million shares of Citadel’s common stock – an average of just under 7.3 cents per share. The latest SEC filing did not provide a total for the recent stock sales, but indicated that the bulk of the shares were sold in a range of one to two cents each.
That’s still more than the theoretical value of the Citadel shares, which are to be worthless as soon as the company emerges from Chapter 11. The reorg plan is already approved and the emergence from bankruptcy court protection is expected any day now.
RBR-TVBR observation: Aurelius apparently had the financial wherewithal to take a gamble of over a million bucks and write the whole thing off when it lost the gamble. We wonder who was still out there buying millions of Citadel’s shares for even a penny, when their value is almost certain to become zero any day now.
http://www.rbr.com/radio/24715.html
BREAKING NEWS!!! (4/13/10)
" A bankruptcy judge extended Citadel Broadcasting Corp.'s (CTDBQ) exclusive
control of its Chapter 11 case through July 19.
The extension approved Monday by Judge Burton R. Lifland of the U.S.
Bankruptcy Court in Manhattan gives the radio-station owner a safety net if it
fails to obtain approval of its Chapter 11 plan at a confirmation hearing
scheduled for May 12.
The company's exclusive right to file a restructuring plan was set to expire
on April 19. Without the extension, creditors or other parties could have
offered rival plans as Citadel worked to win court approval of its own.
Citadel warned that a lapse in its exclusive plan-filing period could result
in chaos.
If that were to happen, the company would be "assessing competing plans if
filed and contending with the destabilizing effect that such events would have
on their businesses, employees, vendors and customers," Citadel said in court
papers.
The company the extension "merely accounts for the situation where the plan
is not confirmed and additional time to submit an alternative Chapter 11 plan
of reorganization is necessitated."
Citadel is currently seeking creditor approval for a bankruptcy-exit plan
that would see senior lenders, led by J.P. Morgan Chase & Co. (JPM) and owed
about $2.1 billion, receive 90% of Citadel's new equity plus a $762 million
loan.
Under the plan, unsecured creditors, owed $343 million, will receive 10% of
the company's new stock plus a share of $36 million in cash.
Unsecured creditors' recoveries under the plan improved substantially after
they consented to a settlement agreement with the company.
Citadel said that settlement and the filing of the plan shows that it is
"working extremely hard to ensure their swift emergence from Chapter 11" and
that progress "more than warrants" an extension of exclusive control of the
case.
Citadel, which operates 224 radio stations across the U.S., filed for
bankruptcy protection last December, squeezed by a heavy debt load and a drop
in advertising revenue."
...............................................................................................................................................................
Citidel declares Bankruptcy(12/21/09)
http://apnews.myway.com/article/20091220/D9CNAPIG1.html
Citadel broadcasting was removed from the NYSE on3/5/09
At one time Citadel was a $25 dollar stock. Last years high was $2. It is seriously due for a major comeback. They operate the ABC radio network in all of the major radio markets. Don Imus is just one of their well known personalities. Also, their conservative radio shows routinely bring in stellar profits. This stock is a bargain right now. It's a gift. Discuss. Have fun. But play nice boys and girls.
http://www.citadelbroadcasting.com/
http://www.abcradionetworks.com/
Outstanding Shares
269,944,781 as of Oct 31, 2008
Authorized Shares
500,000,000 as of September 30, 2008
........................................................................................................................................................................................................................................................................................................................................................................................
CITADEL BROADCASTING CORPORATION
COMMON
Las Vegas, NV – March 5, 2009 — Citadel Broadcasting Corporation announced today that it expects its common stock to trade in the OTC
Citadel Broadcasting Corporation is the third largest radio group in the United States, with a national footprint reaching more than 50 markets. Citadel is comprised of 165 FM stations and 58 AM stations in the nation’s leading markets, in addition to the ABC Radio Network business, which is one of the three largest radio networks in the United States. For more information visit www.citadelbroadcasting.com.
CONTACT INFORMATION:
Citadel Broadcasting Corporation
Patricia Stratford (212) 887-1670
......................................................................................................................................................................................................................................................................................................................................................................................
COMPANY MANAGEMENT
Farid Suleman
Chairman and CEO
Judy Ellis
Chief Operating Officer
Matt Hanlon
Regional President
Kevin LeGrett
Regional President
Wayne Leland
Regional President
Paul O' Malley
Regional President
Dave Marchette
Chief Technology Officer
Jacquelyn Orr
General Counsel and Vice President
Mike Pallad
Vice President of Sales
James M. Robinson
President ABC Networks
John Rosso
Senior Vice President of Digital Media
BOARD OF DIRECTORS
......................................................................................................................................................................................................................................................................................................................................................................................
Owned and Operated Stations
Citadel Broadcasting is the third largest radio group in the United States, with a strong national footprint reaching more than 50 markets. We have a well-clustered station portfolio with leading positions in attractive markets including coverage in eight of the top ten. Our company is comprised of 165 FM stations and 58 AM stations in the nation's leading markets. As a company focused exclusively on the radio business, Citadel Broadcasting has the benefit of scale in an increasingly competitive industry.
Networks
The ABC Radio Networks has nearly 4,400 affiliate radio stations reaching nearly 105 million people age 12 and over each week. Programs and services include ABC News Radio, Paul Harvey News and Comment, The Sean Hannity Show, The Tom Joyner Morning Show, The Doug Banks Morning Show, MoneyTalk with Bob Brinker, The Mark Levin Show, The Mark Davis Show, The Larry Elder Show, American Country Countdown with Kix Brooks, The Dan Patrick Show, The Herd with Colin Cowherd, Mike and Mike in the Morning, The Michael Baisden Show, Dick Bartley's Rock & Roll's Greatest Hits, Renán Almendárez Coello—El Vacilón de la Mañana with Juan Carlos Alonso and Jorge L. Quiles Morales, ESPN Deportes Radio. Other ABC services include advanced digital media platforms including online interactive advertising, streaming audio and podcasts, ABC Sports Radio, syndicated music and talk programs including Flashback, format-specific ePREP and production libraries, ABC's Jack FM™ and nine other 24-Hour Formats, including Scott Shannon's True Oldies Channel and ESPN Radio, which is the exclusive network radio home of Major League Baseball, the NBA and the Bowl Championship Series. Today, ABC Radio Network is one of the largest radio program syndicators in the United States, with significant resources invested in Programming, Engineering, ABC News Radio, Marketing, Radio Station Affiliation, Advertising Sales and New Media.
Digital Media
Citadel Interactive in focused on operating an expansive digital platform that provides our listeners an unique and rich on-line experience. Currently, Citadel Interactive hosts over 250 websites that receive over 100 million monthly page views and one of the nations largest streaming networks for on-line radio, with over 170 radio stations streaming live on-line. Our digital platform provides advertisers the opportunity to connect with our listeners via the web on a local, regional and national level. Advertising opportunities include streaming audio ads, Video gateways, display, podcasting, on-line contesting, and mobile marketing opportunities
.......................................................................................................................................................................................................................................................................................................................................................................................
Net revenues for the quarter ended September 30, 2008 were $213.9 million
• Segment Operating
• Free cash flow was $33.8 million for the quarter ended September 30, 2008
• Net income for the quarter ended September 30, 2008 was $28.0 million
• Free cash flow was $93.9 million for the nine months
• During the nine months ended September 30, 2008, the Company reduced its long-term debt by approximately
$363.8 million, resulting in a gain on extinguishment of debt of $85.7 million
Corporate Profile
Citadel Broadcasting is the largest pure play radio company in the United States, with a strong national footprint reaching more than 50 markets. Our company is comprised of 165 FM stations and 58 AM stations in the nation's leading markets. In addition to our strong national footprint, Citadel Broadcasting also owns and operates ABC Radio Networks, which creates and distributes programming to more than 4,000 affiliates. The programming includes popular syndicated radio programs such as Paul Harvey News and commentary and The Tom Joyner Morning Show, as well as 24/7 music formats. As a company focused exclusively on the radio business, Citadel Broadcasting has the benefit of scale in an increasingly competitive industry.
Headquarters: | Independent Auditors: | ||||||||||
| FCC Legal Counsel: Leventhal, Senter & Lerman 2000 K Street, N.W. Suite 600 Washington, D.C. 20006-1809 202-429-8970 | ||||||||||
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