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twitterVegas firm files for IPO
Thursday, June 6, 2002 | 11:37 a.m.
Citadel Broadcasting Corp. of Las Vegas, the sixth-largest U.S. radio broadcaster and investment firm Forstmann Little & Co.'s biggest-ever acquisition, filed Wednesday to raise $575 million in an initial stock sale amid rising prices for radio stocks.
Forstmann Little paid $2.1 billion in cash and debt for Citadel a year ago, and in February named Farid Suleman, chief executive officer of rival Infinity Broadcasting Corp., as Citadel's CEO.
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