Cumulus Completes Acquisition of WestwoodOne


        Radio on FacebookJoin us on Facebook

Atlanta, GA - Dec 12, 2013 - Cumulus Media has completed the previously announced acquisition of WestwoodOne, formerly known as Dial Global, for $260 million in cash, consisting of approximately $45 million attributable to the equity of WWO and the retirement of $215 million of debt of WWO. Cumulus used cash on hand, including approximately $238 million in cash proceeds from the company's previously completed sale of 53 radio stations in 12 small and mid-sized markets in November 2013 to Townsquare Media.

The acquisition of WestwoodOne will add sports, news, talk, music and programming services content. New content acquired includes NFL, NCAA, NASCAR, Olympics, AP Radio News, NBC News, the Grammy Awards and other popular programming.

Although the merger was not subject to the pre-closing notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act, the Antitrust Division of the Department of Justice (DOJ) is conducting a review of the transaction. While Cumulus believes the merger does not raise any anti-competitive issues, it continues to voluntarily assist the DOJ with its evaluation.




Acceptable Use Policy
blog comments powered by Disqus

[an error occurred while processing this directive]

Today in Radio History

Milestones From Radio's Past

The history of radio broadcasting extends beyond the work of a few famous inventors.

Digital Edition

Each Issue as a Digital Edition

Read each issue online in our Digital Edition Format in your Web browser.

EAS Information More on EAS

NWS XML/Atom Feed for CAP Messages

The feed provides feeds for all US states and territories.

Wallpaper Calendar

Radio 2014 Calendar Wallpaper

Need a calendar for your computer desktop? Use one of ours.

The Wire

A virtual press conference

Information from manufacturers and associations about industry news, products, technology and business announcements.

Join Us Facebook Twitter YouTube LinkedIn
Radio magazine cover

Current Issue

Northern Community Radio Expands: An Engineer's Perspective

When Northern Community Radio set out to build a new community radio station in rural northern Minnesota 38 years ago, naysayers said that it would be broadcasting “only to a bunch of gophers

Browse Back Issues

[an error occurred while processing this directive]