From this morning's AJC (via Radio Talk)
Top management of Atlanta-based Cumulus Media, one of the nation's largest operators of radio stations, wants to take the company private in a deal valued at $1.3 billion.
The planned buyout was announced Monday morning. It is being led by Cumulus' top executive, Lew Dickey. He and the Dickey family plan to take control of Cumulus in partnership with Merrill Lynch Global Private Equity.
The deal would pay Cumulus shareholders $11.75 per share. Cumulus said the offer is 40.4 percent higher the closing price of Cumulus shares Friday.
