Citadel Broadcasting Corporation Acquires WKSY-FM from Guaranty Broadcasting Company

PRESS RELEASE   
May 20, 2005


Citadel Broadcasting Corporation has agreed to purchase the assets of radio station WKSY-FM, licensed to Picayune, Mississippi, serving New Orleans, from Guaranty Broadcasting Company, for $7.5 million.*

George R. Reed represented the seller in this transaction.

* Pending FCC Approval

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