CNBC Reports Citadel In Negotiations With Cumulus
There is word today that Citadel Broadcasting, anchored in New York by WABC-AM, is in negotiations to sell itself to Cumulus Media.
CNBC’s David Faber was the first to break the story today.
He says the deal would be at $37 a share, with $30 in cash and the remaining $7 in Cumulus stock.
CNBC’s Faber adds that in December, Cumulus, led by its CEO Lou Dickie, made an offer of around $31 a share for Citadel, which ultimately was rejected by the company.
Since
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