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Clear Channel Considering Disney Radio

(CelebrityAccess MediaWire) — Clear Channel Radio Chief Executive John Hogan said last week that the company may be interested in purchasing Disney Radio if the stations are put up for sale.

"We have, and will continue to have, a very keen interest in improving our portfolio," Hogan said in an interview, according to MarketWatch. "There are a number of stations that Disney own that we could very easily add to our existing portfolio, and do very well with.

"The question is, at what price? We have a long history of having a very responsible financial model that we apply to potential purchases, and if we could do it, and have it make sense, we would certainly be interested," said Hogan.

Disney is widely believed to be interested in selling the stations, which could attract such suitors as Emmis Communications, Entercom Communications, Cox Radio and Citadel Broadcasting.

According to MarketWatch, Walt Disney Co.'s CEO-elect Bob Iger told analysts during the company's quarterly earnings conference in May, "As we've said about a number of our assets, we are always open to looking at possibilities of either buying or selling assets… We are not going to comment specifically, though, as to whether we are looking to buy or sell radio properties at this point."

Disney Owns stations in many markets, including New York, Los Angeles, Chicago, San Francisco, Washington D.C. and Dallas. Clear Channel Communications Inc. is the nation's largest radio broadcaster, with more than 1,200 stations. –by CelebrityAccess Staff Writers