http://fmqb.com/article.asp?id=2285936
<<inline: trans.gif>>
FCC Approvals Cumulus-Citadel Merger
<<inline: trans.gif>>
September 14, 2011The FCC announced today that it has approved the $2.5 billion merger of Cumulus Media andCitadel Broadcasting, clearing the way for the deal to close as soon as this week. Citadel shareholders are slated to vote on Cumulus' acquisition of the company tomorrow (9/15).
As reported yesterday, the Cumulus-Citadel deal was approved by the Department of Justice. However, as part of the DOJ's Consent Decree, it stated that it will not oppose the merger as long as three stations are sold off: Country WCAT/Carlisle, PA; CHR WWKL/Palmyra, PA and Classic Rock WRSR/Owosso, MI.
The FCC noted in its own documentation that Cumulus and Citadel "are direct competitors in very few markets. As a result, only six stations in four markets will be divested due to radio market overlap." Those stations are: Urban AC KMJK/Kansas City; Standards WNZZ-AM/Montgomery, AL; AC KYNF/Fayetteville, AK; Rock WROK/Macon, GA; Urban AC WTYB/Savannah, SC; Sports WKOR-AM/Starkville, MS; Sports WJXY/ Myrtle Beach, SC and CHR WXJY/Georgetown, SC. The stations will be put into the Volt Radio, LLC trust to be spun off.
_______________________________________________ Medianews mailing list [email protected] http://lists.etskywarn.net/mailman/listinfo/medianews
