Major Deal Rumored Between Cumulus, Dial Global & Townsquare
August 28, 2013
FMQB is hearing rumblings of a massive deal in the works between Cumulus Media, Dial Global and Townsquare Media that would have major implications for the radio industry. If the rumors are true, Cumulus could be acquiring Dial Global and folding it into its own Cumulus Media Networks syndication division, possibly even bringing back the Westwood One name.
At the same time, Cumulus may sell off a number of its smaller and medium market stations to Townsquare Media, reportedly to pay for the Dial Global acquisition. The multi-million dollar deal would further bolster Townsquare's profile as one of the larger radio ownership groups.
Of course, the deal would also be subject to intense government scrutiny before it could formally go forward. If everything falls into place, an announcement is rumored to happen as soon as this week.