Traditionally, when a TV and radio station share the same call letters and then one of the stations is sold, the station that had the call letters first gets to keep them. KGO-AM went on the air on Jan. 8, 1924, according to the oldradio.com web site, while KGO-TV 7 signed on 25 years later on May 9, 1949. Since Channel 7 is advertising itself these days as "ABC 7" the call letter change at the TV station may not be a problem.
The new radio company will be owned by Disney and Citadel Broadcasting shareholders. It will enter into a 10-year licensing agreement allowing it to distribute ABC Radio News to some 4,600 terrestrial stations, but Disney will retain the rights to other formats, such as broadband, wireless and satellite. However, the new spin-off company will own programs such as "The Sean Hannity Show," "Money Talk with Bob Brinker" and "Paul Harvey News and Comment." But the deal does not include Radio Disney or ESPN Radio. [AP's story] [ABC News's version] [History of Citadel Broadcasting]