[BC] Citadel and ABC

[Reader]

NEW YORK (Reuters) -- Citadel Broadcasting Corp. wants to renegotiate 
some of the terms of its $2.7 billion deal to buy Walt Disney Co.'s 
ABC radio business, the Wall Street Journal reported Monday, citing 
an interview with the chief executive of Citadel.

Citadel , which agreed to buy the business in February, hopes to 
renegotiate terms of the deal's debt financing amid a 27 percent 
slide in its stock price.

The original deal comprised stock, valued at the time at about $1.3 
billion, and $1.4 billion in cash. But if its shares remain low, it 
would trigger a clause in the agreement that guaranteed a bigger 
payout to Disney if Citadel's stock declined significantly, the report said.

But an important reason Citadel's shares have fallen so much is the 
poor performance of Disney's ABC Radio assets, analysts told the paper.