In December 2007, Citadel began broadcasting the morning radio show of shock jock Don Imus, just about six months after he had been fired by CBS for making racist and sexist remarks.

[8] On June 19, 2008; Arbitron expanded Oklahoma City's market definition allowing Citadel to own five FM stations in the said area, at which time Citadel Broadcasting applied to re-acquire KKWD from The Last Bastion Station Trust, LLC with the Federal Communications Commission (FCC).

That same period, hundreds of personalities were dismissed as some stations over time changed formats—most notably to ABC Radio's in-house satellite network The True Oldies Channel.

[citation needed] On September 12, 2008, Citadel Broadcasting received a notice from the New York Stock Exchange (NYSE) warning them that they would be facing a delisting after the company shares fell below the continuing listing criteria in the past 30 days:[10] after an IPO of $20.67 in August 2003, and a high of $22.70 in December 2003, CDL had closed at $0.01 on March 6, 2009.

The company, in the filing, said that it "does not expect to meet its covenant requirements under the Senior Credit and Term Facility as of January 15, 2010."

[16][17] During that period, its senior lenders took 90% of the equity, and the re-structuring approved by a Manhattan federal bankruptcy judge was completed.

It emerged from bankruptcy in June 2010, owned by its lenders, the Dallas hedge fund R2 Investments, JPMorgan Chase and the buyout firm TPG.

[20] On March 10, 2011, Citadel Broadcasting announced via email that it had been purchased by Cumulus Media in a deal worth $2.4 billion.

[22] Ultimately these included WELJ in Montauk, New York and WCAT-FM in Carlisle, Pennsylvania, placed in a trust operated by Scott Knoblauch.

Peak operated in the Boise, Idaho market after purchasing six radio stations from Clear Channel Communications.

Peak has denied the allegations, but the two parties reached a confidential settlement, which included an undisclosed payment to Citadel, according to the Idaho Statesman.

[25] In April 2008, ABC/Citadel's KGO in San Francisco, California was installing equipment for broadcasting with solar power during the daytime hours.