M&A Deal Summary

Cumulus Media Acquires Citadel Broadcasting

On September 16, 2011, Cumulus Media acquired media company Citadel Broadcasting

Acquisition Highlights
  • This is Cumulus Media’s 2nd transaction in the Media sector.
  • This is Cumulus Media’s 3rd transaction in the United States.
  • This is Cumulus Media’s 1st transaction in Nevada.

M&A Deal Summary
Date 2011-09-16
Target Citadel Broadcasting
Sector Media
Buyer(s) Cumulus Media
Deal Type Add-on Acquisition

Target

Citadel Broadcasting

Las Vegas, Nevada, United States
website
Citadel Broadcasting (Formerly Citadel Communications Corp.) is the largest pure play radio company in the United States.

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Buyer(S) 1

Buyer

Cumulus Media

Atlanta, Georgia, United States

website

Category Company
Founded 2002
Sector Media
Employees2,455
Revenue 954M USD (2022)
DESCRIPTION
Entrance to Cumulus' corporate headquarters in Atlanta, Georgia.
Entrance to Cumulus' corporate headquarters in Atlanta, Georgia.

Cumulus Media is an owner and operator of AM and FM radio stations in the United States. Cumulus Media was incorporated in 2002 and is headquartered in Atlanta, Georgia.

DEAL STATS #
Overall 3 of 6
Sector (Media) 2 of 5
Type (Add-on Acquisition) 3 of 6
State (Nevada) 1 of 1
Country (United States) 3 of 6
Year (2011) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-01 Cumulus Media Partners

Atlanta, Georgia, United States

Cumulus Media Partners, LLC owns and operates radio broadcasting stations. The company, through its AM and FM radio stations, serves listeners, communities, advertisers, and agencies in Dallas, Houston, San Francisco, Atlanta, Cincinnati, Indianapolis, York, Albemarle, and Anniston. The company was formerly known as Susquehanna Radio Corp. and it changed its name to Cumulus Media Partners, LLC in May, 2006.

Buy $740M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-30 DialGlobal

New York, New York, United States

Dial Global is a national audio media company in the U.S., delivering compelling, engaging, and fully-integrated audio content to over 8,500+ radio stations and digital media companies. Dial Global's portfolio of iconic media, sports and entertainment brands, combined with some of the most recognized live events in the world, provide strong and unique brand engagement to over 225 million consumers each week.

Buy $260M
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