Cumulus Media Inc. has agreed to purchase Citadel Broadcasting Corporation in a cash-and-stock deal worth $2.5 billion, including debt.
Citadel stockholders will receive the equivalent of $37 per Citadel share. Shareholders can elect to receive up to $30 in cash, with the rest paid out in Cumulus stock. Depending on elections and prorations, Citadel shareholders will own between 30 and 51 percent of the combined company.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
