Television & Radio M&A » By The Online Investor Staff, updated Tue., Mar. 9, 3:15 AM
Recent mergers and acquisitions in the Television & Radio M&A category.
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Slide #61. Cumulus Media — WFME-FM
Acquirer:
Cumulus Media (NASDAQ:CMLS)
Acquiree:
WFME-FM
Details:
Cumulus Media, the nation's largest pure-play radio broadcaster, announces that it has signed a definitive agreement to purchase WFME-FM -- providing Cumulus a third station in New York City. The transaction is expected to close in the fourth quarter of 2012, and the company will announce format plans for the station at that time.
Cumulus Media is a holding company. Through its subsidiaries, Co. is a media and entertainment company. Co. engages listeners with local programming through owned and operated stations across several markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from brands including the NFL, the NCAA, the Masters, the Olympics, the American Country Music Awards, and various partners across affiliated stations through Westwood One. Co. provides advertisers with local impact and national reach through on-air, digital, mobile, and voice-activated media solutions, as well as access to integrated digital marketing services, influencers, and live event experiences.
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Avg. Broker Rec.
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Buy (3.00 out of 4) 33rd percentile
(ranked lower than approx. 67% of all stocks covered)
Analysts' Target Price: CMLS Stock Forecast Based on Zacks ABR data; powered by Xignite |
