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CMLS > SEC Filings for CMLS > Form 8-K on 14-Nov-2013All Recent SEC Filings

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Form 8-K for CUMULUS MEDIA INC


14-Nov-2013

Completion of Acquisition or Disposition of Assets


Item 2.01 - Completion of Acquisition or Disposition or Assets.

On November 14, 2013, Cumulus Media Inc. ("Cumulus") completed the sale to Townsquare Media, LLC ("Townsquare") of 53 radio stations in 12 small and mid-sized markets for approximately $238.0 million in cash, and the swap with Townsquare of 15 radio stations in two small and mid-sized markets in exchange for five radio stations in Fresno, California (together, the "Townsquare Transaction"). Cumulus intends to use the cash proceeds from the Townsquare Transaction to fund a portion of the purchase price payable to complete its previously announced acquisition of Dial Global, Inc., now known as WestwoodOne. This acquisition is expected to be completed in the fourth quarter of 2013. Item 9.01 - Financial Statements and Exhibits.

(d) Exhibits.

   Number           Exhibit

    99.1            Unaudited pro forma condensed consolidated balance sheet of
                    Cumulus Media Inc. as of September 30, 2013 and unaudited
                    pro forma condensed consolidated statements of operations of
                    Cumulus Media Inc. for the nine months ended September 30,
                    2013 and for the years ended December 31, 2012, 2011 and
                    2010, and notes related thereto.


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