WIth a lot of debt from acquiring Citadel Media and what used to be ABC Radio, Cumulus is giving Townsquare Media, a station owner in smaller markets, 55 stations in Maine, Binghamton, Bismarck, Grand Junction in Colorado, Texas, New Bedford in Massachusetts, Sioux Falls and Tuscaloosa, while Townsquare gives Cumulus 10 stations in central Illinois and all that cash: http://www.allaccess.com/net-news/archive/story/105367/cumulus-townsquare-swap-involves-65-stations-13-ma If the FCC approves, Townsquare will end up with around 200 stations total, while Cumulus will remain number 2 in U.S. station holdings behind Clear Channel with around 500 stations--and old-timers in the radio biz hate Cumulus almost as much as they hate CC.
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