Citadel Broadcasting is selling three Atlantic City radio stations to Millennium Radio Group for $19.4 million.
The stations involved in the deal are WFPG-FM, WFPG-AM and WPUR-FM. Citadel decided to divest the Atlantic City stations from its portfolio since it doesn't own any other New Jersey properties. The transaction is expected to close, subject to regulatory clearance, in the third quarter of this year. - Richard Tedesco