Market Overview

R2 Investments Intends to Nominate Two Directors to the Citadel Broadcasting Board of Directors at the 2011 Annual Meeting

Share:

FORT WORTH, Texas, Feb. 8, 2011 /PRNewswire/ -- R2 Investments, LDC, one of the largest owners of Citadel Broadcasting's (Pink Sheets: CDELB) outstanding shares, intends to nominate two directors to Citadel's board at the 2011 annual meeting.  R2 has sent a written request to Citadel to obtain the necessary documents detailed in the company's bylaws to properly nominate the two directors.

R2 continues to be frustrated by the lack of meaningful response by the company to numerous shareholder requests regarding a potential business combination with Cumulus and expects the replacement of two board members at this year's annual meeting to help provide the board with necessary direction.

SOURCE R2 Investments

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com