Cumulus, Townsquare Media announce major radio station swap

Cumulus Media and Townsquare Media have announced a station swap involving 65 radio stations in 13 small and medium markets. Under the deal, Cumulus will turn over to Townsquare 55 outlets in 11 markets, and receive 10 stations in two markets and $116 million in cash. The transaction is scheduled to be finalized in the later half of the year.

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