Cumulus Media, Inc. (also known as Cumulus Broadcasting) is the second largest Owner and Operator of AM and FM radio stations in the United States, operating 347 stations in 68 markets as of December 31, 2008.. The Company's headquarters are located in Atlanta, Georgia. Cumulus has focused on owning radio stations located in medium sized media markets. Unlike some others in the radio business, they only operate radio stations. They do not own any...
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Cumulus Media, Inc. (also known as Cumulus Broadcasting) is the second largest Owner and Operator of AM and FM radio stations in the United States, operating 347 stations in 68 markets as of December 31, 2008.. The Company's headquarters are located in Atlanta, Georgia. Cumulus has focused on owning radio stations located in medium sized media markets. Unlike some others in the radio business, they only operate radio stations. They do not own any TV stations, concert venues, or other ancillary businesses.
In 2006, Cumulus acquired control of Susquehanna Radio, with the backing of 3 venture capital firms (Bain Capital Partners LLC, The Blackstone Group and Thomas H. Lee Partners, L.P.) for a price of $1.2 Billion. The 33 Susquehanna stations are privately held in a separate partnership called CMP (Cumulus Media Partners), that is the subject of an equity for debt swap as of May 2009 in an attempt to avoid defaulting on the terms of the CMP lending agreement. While Cumulus operates the...
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