(Reuters) - The agreement is the latest in a wave of media industry
buyouts, many of which have put leading U.S. newspaper
publishers and radio broadcasters into private hands as they
grapple with weak advertising and competing digital formats.
Under the buyout, Cumulus shareholders would receive $11.75
in cash per share, amounting to a 40 percent premium over its
closing price on Friday, the company said. Cumulus shares
jumped 35 percent to $11.35 in early Nasdaq trading.
Read more at Reuters.com Mergers News
buyouts, many of which have put leading U.S. newspaper
publishers and radio broadcasters into private hands as they
grapple with weak advertising and competing digital formats.
Under the buyout, Cumulus shareholders would receive $11.75
in cash per share, amounting to a 40 percent premium over its
closing price on Friday, the company said. Cumulus shares
jumped 35 percent to $11.35 in early Nasdaq trading.
Read more at Reuters.com Mergers News
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