8-30-13
Up until now we haven't heard any numbers. This morning The Wall Street Journal says Cumulus will purchase Dial Global for $260 million. Radio Ink can also confirm that Cumulus will sell 53 stations in 12 markets to Townsquare for $240 million and that will include a station swap involving the Boise and Fresno markets. We could not confirm any other markets as of this morning. Sources tell Radio Ink this deal helps Cumulus compete more with Clear Channel's Premiere on content and with ESPN on Sports and helps Cumulus "get to scale quickly." And as a follow up to our small market broadcasters story yesterday, our source tells us they should not worry. "Life just got a whole lot better for them. They will have more tools, not less."
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