Citadel Broadcasting Corporation Reports 2007 Fourth Quarter Operating Results and Entravision Communications Corporation Enters Into Definitive Agreement With Lamar Advertising Company for Sale of Outdoor Advertising Operations

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City of Industry, CA --(www.USEquityNews.com)-- 02/29/2008 - Media entertainment industry alert provided by U.S. Equity News. Citadel Broadcasting Corporation (NYSE: CDL) recently reported its results for the fourth quarter of 2007. Net revenues for the fourth quarter of 2007 were $245.5 million as compared to $114.0 million for the fourth quarter of 2006. The increase in revenues was a result of the acquisition of ABC Radio on June 12, 2007. On a pro forma basis, net revenues in the fourth quarter of 2006 were $258.5 million as compared to $245.3 million for the quarter ended December 31, 2007.


Not only is local TV news content the biggest audience draw for news and information on-air and on digital platforms -- it is also the most effective video advertising platform, according to new research results announced recently by Hearst-Argyle Television, Inc. (NYSE: HTV), owner of one of the nation's largest broadcast television station groups and more than 30 Websites. Hearst-Argyle Television, Inc. owns 26 television stations, and manages an additional three television and two radio stations, in geographically diverse U.S. markets. The Company's television stations reach approximately 18% of U.S. TV households, making it one of America's largest television station groups. Hearst-Argyle owns 12 ABC-affiliated stations, and manages an additional ABC station owned by Hearst Corporation, and is the largest ABC affiliate group.

Entravision Communications Corporation (NYSE: EVC) recently announced that the Company has entered into a definitive agreement with Lamar Advertising Company for the sale of its outdoor advertising operations for a total consideration of $100 million in cash. Entravision's outdoor advertising operations operate under the name Vista Media and primarily consist of approximately 10,600 advertising faces in New York and Los Angeles, the two largest advertising markets in the United States. The transaction is subject to customary closing requirements.

EPIC Corporation (OTC: EPIO) announced that it has entered into an agreement to purchase a television station in Northern California. EPIC's objective is to have a direct satellite link to market its original sports and entertainment programming potentially reaching over 4,000 independent stations nationwide that have a market for original and affordable programming. The company has received its booking, management and managers license for boxing and martial arts events.

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