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Media M&A image Media M&A » By The Online Investor Staff, updated Thu., Mar. 28, 2:27 PM Recent mergers and acquisitions in the Media M&A category.

Slide #57. Cumulus Media Inc. WestwoodOne (f/k/a Dial Global, Inc.)

Acquirer: Cumulus Media Inc. (NASDAQ:CMLS)
Acquiree: WestwoodOne (f/k/a Dial Global, Inc.)
Details: Cumulus Media Inc. (Nasdaq:CMLS) announced today that it has completed the previously announced acquisition of WestwoodOne, Inc. ("WWO"), formerly known as Dial Global, Inc., for $260 million in cash, consisting of approximately $45 million attributable to the equity of WWO and the retirement of $215 million of debt of WWO. Cumulus used cash on hand, including approximately $238 million in cash proceeds from the Company's previously completed sale of 53 radio stations in 12 small and mid-sized markets in November 2013 to Townsquare Media, LLC.

Cumulus Media is a holding company. Through its subsidiaries, Co. is an audio-first media company delivering content to listeners with local programming through an owned-and-operated radio stations; delivers nationally-syndicated sports, news, talk, and entertainment programming; and inspires listeners through the CUMULUS Podcast Network, its network of podcasts that are thought-provoking. Co. provides advertisers with personal connections, local impact and national reach, as well as integrated digital marketing services, influencers, full-service audio solutions, industry-leading research and insights, and live event experiences.

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Company Name: 
Cumulus Media Inc
Website: 
www.cumulusmedia.com
Sector: 
Television & Radio
Number of ETFs Holding CMLS: 
3
Total Market Value Held by ETFs: 
$2.26M
Total Market Capitalization: 
$51.00M
% of Market Cap. Held by ETFs: 
4.44%
 

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Hold (2.00 out of 4)
0th percentile
(ranked lower than approx. 100% of all stocks covered)

Analysts' Target Price:
CMLS Stock Forecast

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