Luxury homebuilder Toll Brothers is conducting due diligence on the property, which should take about 60 days. Cumulus is hoping to net between $85 and $95 million on the 75 acres in Bethesda, home to WMAL-AM. Cumulus says a deal with Toll Brothers was struck on July 8 and the plan needs to be approved by the local planning commission. Cumulus has a $10 million kicker if Toll brothers is able to build a certain number of units in 2017. READ MORE
