Cumulus Group Buys Susquehanna Radio For $1.2 Billion

  • October 31, 2005
Cumulus Media, the second largest radio operator in the U.S., Monday said it formed a partnership with private equity firms to acquire Susquehanna Radio for approximately $1.2 billion. Cumulus will provide management services to the partnership. The transaction is expected to be completed in the first half of 2006. Susquehanna Radio is the largest privately owned radio broadcasting company in the United States and the 11th largest radio station operator in terms of revenue. The group consists of 33 radio stations in eight markets including: San Francisco, Dallas, Houston, Atlanta, Cincinnati, Kansas City, Indianapolis and York, Pennsylvania. -- Joe Mandese
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