Citadel Joins 21 Leading Broadcast Groups in Accelerated Rollout of iBiquity's HD Radio Technology
Las Vegas, NV - April 19, 2005 - iBiquity Digital Corporation and Citadel Broadcasting Corporation announced today that the 6th largest radio group will join the coalition of broadcasters that recently announced accelerated plans to convert AM and FM stations to digital HD Radio technology. Citadel plans to convert 60 stations to HD Radio over the next three years.
"This is an investment that will significantly enhance the listener experience with traditional radio," said Farid Suleman, Chairman and CEO, Citadel Broadcasting Corporation. "The digital experiences offered by HD Radio -superior sound, the ability to multicast additional content on FM stations and data that can be displayed on receivers -- will allow us to continue producing the best entertainment possible for consumers."
Robert Struble, President and CEO, iBiquity Digital Corporation stated, "We welcome Citadel accelerated HD Radio rollout efforts and are pleased to see all of the top 10 broadcast groups now working to drive the digital broadcasting conversion forward. Today's announcement further cements the industry's commitment to enhance and expand the great qualities that radio offers to listeners at no charge every day."
HD Radio technology transmits digital audio and data alongside existing AM and FM analog signals, allowing listeners with HD Radio compatible receivers to enjoy CD-quality sound and virtually eliminating the static, hiss and pops associated with analog radio. The technology also provides a platform for advanced digital services that will deliver listeners a variety of desired information such as song titles, artist names, traffic updates, weather forecasts, sports scores, and more. Additionally, HD Radio technology allows FM stations to multicast -an achievement that was recognized as an honoree in the Innovations 2005 Design and Engineering Showcase held in conjunction with this year's CES . Using their current frequencies, FM stations can divide their broadcasts into multiple, distinct program streams, thereby increasing the diversity of audio content available to listeners.
Citadel joins 21 groups who announced their accelerated HD Radio role out plans in January 2005 at the Consumer Electronics Show in Las Vegas . For that press release, go to http://www.ibiquity.com/press/pr/121504.htm.
About Citadel Broadcasting Corporation
Citadel Broadcasting Corporation is a pure play radio broadcaster focused on acquiring, developing and operating radio stations throughout the United States . The Company owns and operates 155 FM and 58 AM radio stations in 46 markets located in 24 states across the country. Citadel was acquired by affiliates of Forstmann Little & Co. in June 2001.
About iBiquity Digital Corporation
iBiquity Digital is the sole developer and licenser of HD Radio™ technology in the U.S., which is transforming today's AM and FM radio stations to digital, enabling radically upgraded sound, crystal-clear reception and new wireless data services. The company's investors include 15 of the nation's top radio broadcasters, including ABC, Clear Channel and Viacom; leading financial institutions, such as Grotech Capital Group, J.P. Morgan Partners, New Venture Partners, Pequot Capital and J&W Seligman; and strategic partners Ford Motor Company, Harris, Texas Instruments and Visteon. iBiquity, named one of Deloitte's Fast 500 Companies, is a privately held with operations in Columbia, MD, Detroit, MI, Belmont, CA and Warren, NJ. For more information please visit: www.ibiquity.com.
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