Cumulus' Price Tag for WFME: $40 Million
We’re getting more details about Cumulus’ recent acquistion of Newark, New Jersey-based WFME. The broadcasting company is paying Family Stations $40 million, All Access reports.
Cumulus is using Radio License Holding X, LLC for the purchase that includes Country WDVY in Mount Kisco, a simulcast of WDBY/Kicks 105.5.
There’s an added wrinkle that could ultimately bring Cumulus a larger payout. Cumulus will receive an extra $8.5 million if WFME is moved into the five boroughs as a Class A or B1 within five years.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in