Radio Ink has reported that the deal for Cumulus to buy Citadel has been completed. However, they could not confirm it officially as they had gotten "inside" information. If it's not done, it's close...Barron's reported in the last hour that private equity firm, Crestview parnters was putting $500 million into the deal. Cumulus shares were up more than 6.5% to $4.59 and Citadel's had increased 15% to $34.50 a share. Cumulus has reportedly offered $37 a share.
We will continue this report when we get complete confirmation.