Most Popular Articles
Cumulus Completes Acquisition of WestwoodOne
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
The history of radio broadcasting extends beyond the work of a few famous inventors.
Read each issue online in our Digital Edition Format in your Web browser.
EAS Information More on EAS
The feed provides feeds for all US states and territories.
Need a calendar for your computer desktop? Use one of ours.
Information from manufacturers and associations about industry news, products, technology and business announcements.
Browse Back Issues[an error occurred while processing this directive]
Also in the November Issue
- Trends in Technology: HD Radio Transmission Update
- Franken FM Stations
- Wi-Fi on Wheels: The Connected Car
- Field Report: Yamaha MG10XU
- Transmitter Site Cleanup