Warshaw-led consortium in US$1.2 billion bid for Cumulus Media-sources

📆 4/15/2022 1:02 AM
📰 ChannelNewsAsia

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A consortium led by US radio station industry veteran Jeff Warshaw has offered to acquire Cumulus Media for close to US$1.2 billion, including debt, people familiar with the matter said on Thursday. Warshaw has informed Cumulus, an Atlanta-based owner and operator of 406 radio stations, that he would

A consortium led by US radio station industry veteran Jeff Warshaw has offered to acquire Cumulus Media for close to US$1.2 billion, including debt, people familiar with the matter said on Thursday.

Cumulus shares were hovering around US$11 before news of the bid emerged on Thursday afternoon. They rose 40per cent on the news to end trading at US$14.21

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Exclusive-Warshaw-led consortium in $1.2 billion bid for Cumulus Media-sources:A consortium led by U.S. radio station industry veteran Jeff Warshaw has offered to acquire Cumulus Media Inc for close to $1.2 billion, including debt, people familiar with the matter said on Thursday.Warshaw has informed Cumulus, an Atlanta-based owner and operator of 406 radio stations, that he would be w
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