Cumulus Media Buys Dial Global; Announces Sale Of 53 Radio Stations

(RTTNews) - Cumulus Media Inc. (CMLS) announced the acquisition of Dial Global Inc. for $260 million in cash. Dial Global (DIAL.PK) is an independent national audio media company in the U.S., delivering audio content to over 8,500+ radio stations and digital media companies.

Cumulus Media announced the sale of 53 radio stations in 12 small & mid-sized markets to Townsquare Media for $238 million in cash. The company also announced the swap with Townsquare Media of 15 radio stations in two small & mid-sized markets in exchange for the receipt of five stations in Fresno, California.