May 30, 2000
Clear Channel/Cumulus Swap
source: Yahoo News

Cumulus Media Inc. announced that it will acquire 11 stations in 4 markets from Clear Channel Communications and will provide in return 25 stations in 5 markets plus cash.
The stations and markets Cumulus is acquiring include:
Melbourne-Titusville-Cocoa, Florida (Market Rank # 96) - WHKR-FM. In this market, Cumulus recently agreed to purchase WAOA-FM and WTMS-AM from Southern Broadcast Group, LLC.
Shreveport, Louisiana (Market Rank # 129) - KRDM-FM, KRMD-AM, KMJJ-FM.
Cedar Rapids, Iowa (Market Rank # 201) - KHAK-FM, KRNA-FM, KDAT-FM.
Harrisburg, Pennsylvania (Market Rank # 76) WTCY-AM, WNCE-FM, WTPA-FM, WNNK-FM.

Cumulus will provide Clear Channel the following station assets as part of the transaction:
Chattanooga, Tennessee (Market Rank # 104) - WUSY-FM, WKXJ-FM, WLMX-FM, WIIS-AM, WLOV-FM.
McAllen, Texas (Market Rank # 63) - KTEX-FM, KBFM-FM.
Ann Arbor, Michigan (Market Rank # 145) - WIQB-FM, WQKL-FM, WTKA-AM, WYBN-AM.
Salisbury, Maryland (Market Rank # 150) - WLVW-FM, WQHQ-FM, WTGM-AM, WSBY-FM, WJDY-AM, WWFG-FM, WLBW-FM, WOSC-FM.
Eau Claire, Wisconsin (Market Rank # 231) - WATQ-FM, WBIZ-AM, WBIZ-FM, WMEQ-AM, WMEQ-FM, WQRB-FM.
Assuming completion of all pending acquisitions and divestitures, Cumulus Media will own and operate 304 radio stations in 60 U.S. media markets.

posted on May 30, 2000 09:15 AM