"BRACING FOR THE WORST"

"In fact, the earnings report was so dismal that it shocked industry
analysts and led to yet another drop in Citadel's already sagging
stock price, pushing it further into penny stock territory. Given a
brutal outlook for the radio business and its own particularly
alarming financial future, the company was forced to write off an
unexpectedly large portion of the value of its stations, sending
investors running for cover. At 1pm Eastern, CDL shares were
collapsing, down $1.06 to a mere $2.80 per share, a more than 26%
drop. That represents a loss of $280,000,000 in market
capitalization."

http://radioequalizer.blogspot.com/2...ner-faces.html

Definately, no money to subsidize HD radios! Too bad, this little
scheme to bilk the public, just to pro-up your dying industry didn't
work! Ha! Ha!