Townsquare Media and Cumulus Media had a big week last week, buying, selling and swapping stations and syndicators like there was no tomorrow. Cumulus media acquired Dial Global for $260 billion, intending to merge it into Cumulus Media Networks.
Meanwhile, Townsquare Media acquired 53 stations in 12 markets, spinning some of the stations off to Cumulus and others. In another deal, Cumulus is buying back five Green Bay stations from Clear Channel.
Cumulus CEO Lew Dickey commented, “These transactions give us the necessary scale to provide the marketing and enterprise solutions our advertising and affiliate partners require.”
Townsquare Chairman/CEO Steven Price noted, “These transactions represent the continued evolution of Townsquare Media into one of the nation’s largest local media companies and allow us to reach a scale which opens the door to new strategic opportunities.”