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Friday, February 18, 2011

SOLD! Cumulus Buys Citadel For $2.4 Billion



Radio Ink
Eric Rhoads Blog

Fence-Sitting: Should NPR Be Defunded?

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Eric Rhoads, Chairman/Publisher | Joe Howard, Editor-in-Chief | Brida Connolly, News Editor
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Today's Headlines February 18, 2011

Call Him Big Lew Now. Dickey Closes The Deal With Farid

Dickey Closes The Deal With Farid

Radio Ink has confirmed that a deal to purchase Citadel, which includes the radio network and the former ABC-Disney properties and Citadel properties with 550 stations in 120 cities and eight of the top 10 markets has been agreed to. The offer, which was accepted is due to be announced at $37 a share ($30 cash).
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Farid Tells Employees The Deal With Cumulus is Coming

Farid Tells Employees Deal With Cumulus Coming

In an e-mail to employees Citadel boss Farid Suleman all but confirmed the sale of Citadel to Cumulus that Radio Ink reported. Read that e-mail and the entire press release Farid sent out to employees.

Citadel. From Larry Wilson to Farid to Lew Dickey. With A Bankruptcy In Between

Citadel. From Larry Wilson to Farid to Lew Dickey. With A Bankruptcy In Between

The announcement is expected later this morning. Citadel goes to Cumulus. Lew Dickey to run the show. Farid, most likely, to exit at some point. It's been a long and winding road for this company founded by Larry Wilson over 25 years ago.

Cumulus Stock Price Closes 10% Higher Thursday

The news of the impending sale of Citadel to Cumulus rocked the stock Thursday. CMLS jumped nearly 11% on the news closing at $4.78. Volume on the stock was insane. Cumulus average 63,000 shares traded. Yesterday the volume was nearly 2.6 million.
Follow Radio Ink On Facebook

Follow Radio Ink On Facebook

Fresh articles not found in Radio Ink magazine to help make your job as a manager easier every day. News flashes as they happen. Information about our highly successful conventions. New Hires and Fires. Much more.
Pandora Part Two. You're Still Suckers. Mary Beth Garber Strikes Back

Pandora Part Two. You're Still Suckers. Mary Beth Garber Strikes Back

Over the last 24 hours Mary Beth Garber has watched...and watched...and watched as Radioink.com readers posted over 7 pages of comments about a letter to the editor she penned. In her letter she made reference to investors in Pandora being "suckers". Some of you agreed, others did not. A lot of you are very passionate about where you believe new and innovative Internet creations fit in our lives. Now Mary Beth has her turn to get back in the ring, take off the gloves and straighten some of you people out with the facts.

How To Turn A 0.9 Into A 5.0 In Just One Book!

ADVERTISEMENT -- Radio's newest music format is connecting with the money demo in a revolutionary way. Find out why this "Cool AC" format is breaking rules and ratings records! >>Read More
Business

Do You Have The Best Studio in Radio?

In an upcoming issue of Radio Ink magazine we are highlighting the best studios in Radio. It takes a lot of money, a lot of superb engineering and a lot of great products to build a state-of-the-art Radio station studio. We plan to highlight your station and the vendors that helped make it happen. Send your pictures and all vendor information to edryan@radioink.com.
KBHP-FM in Bemidji Minnesota to Receive NAB Crystal Heritage Award.

KBHP-FM in Bemidji Minnesota to Receive NAB Crystal Heritage Award.

KBHP-FM Bemidji, MN will be the second station to receive the NAB Crystal Heritage Award. The NAB uses the award to recognize a station's long-term commitment to community service by a radio station. The award will be presented during the NAB Show Radio Luncheon Tuesday, April 12 in Las Vegas.
Radio Ink

Do You Want A Great Life?

by Ed Ryan About 2 weeks ago I was lucky enough to land a job, for the 2nd time, at the best company I've ever worked for. Hired at 33, off the selling streets of North Carolina, I spent four years as editor of Radio Ink until the opportunity to run a cluster of Radio stations came along. I only left Radio Ink because I knew I had to be a General Manager at least once before I died.
Mighty Red II: New Features Never Before On ANY Radio

Mighty Red II: New Features Never Before On ANY Radio

Radio Ink debuts the Mighty Red II, bringing back the little HD radio with mighty HD sound. New features on the Mighty Red II include Artist Experience -- cover art, artist info, and more -- onscreen ads that can be synced with audio, Live Pause, and song and ad Bookmarking. It's a great gift for clients to show them what's really possible with HD Radio. Click the headline to order now.
Get The PastBlast iPad App

Get The PastBlast iPad App

PastBlast, the new iPad app from Radio Ink is available now in the Apple App Store. Historical audio, photos, and more from every era of radio's history, with navigation through a beautiful, fully equipped retro radio studio. Click the headline to see it, or get it here.

Updated: Radio Pros Available

The economy is slowly turning around, and broadcasters are beginning to hire again. Put your name in front of the industry with a free listing in Radio Pros Available. And we'll be happy to post your aircheck or demo, or a link to your website. Click the headline to learn more.

February 7: The annual CRS issue featuring a cover Q&A with Lady Antebellum
Radio Ink's Top Country PDs

VP/GM Deborah Parenti talks with country consultants Rusty Walker and Jaye Albright
Station Profile: Beasley's country WXTU/Philadelphia

Coming up in Radio Ink:
March 7: The Urban Radio Issue/Most Influential African Americans in Radio, featuring a cover Q&A with Steve Harvey
March 21: Radio's Best Studios and Facilities
April 4: Focus on the NAB Show

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