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The Walt Disney Company (NYSE:DIS) and Citadel Broadcasting Corporation (NYSE:CDL) announced the completion today of Disney’s spin-off of its wholly-owned subsidiary ABC Radio Holdings, Inc. and its subsequent merger with a wholly-owned subsidiary of Citadel. Prior to the spin-off, Disney transferred to ABC Radio Holdings its ABC Radio Business consisting of 22 large-market radio stations and the ABC Radio Network.
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On January 24, 2006, The Walt Disney Company agreed to buy Pixar for $7.4 billion through an all-stock transaction. The acquisition was completed on May 5, 2006 (swapping one Pixar share for 2.3 shares of Disney), making Pixar a wholly-owned subsidiary of Disney.
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