Susquehanna Radio is the largest privately owned radio broadcasting company in the United States and the 11th largest radio station operator in terms of revenue. The group consists of 33 radio stations in 8 markets including: San Francisco, Dallas, Houston, Atlanta, Cincinnati, Kansas City, Indianapolis and York, Pennsylvania.
To transact this purchase, Cumulus Media Partners, LLC, is being formed as a private partnership to include Cumulus Media, Bain Capital, The Blackstone Group and Thomas H. Lee Partners. Cumulus Media Partners will acquire the radio broadcasting business of Susquehanna Pfaltzgraff Co. Cumulus Media, Inc., will provide management services to the partnership.
The transaction is expected to be completed in the first half of 2006. Cumulus Media will contribute its two FM stations in Houston and two FM stations in Kansas City, in return for its membership interest in the partnership.
Cumulus Media Partners, will own and operate 343 radio stations in 67 U.S. media markets.
Cumulus Media is headquartered in Atlanta, Georgia, and its web site is http://www.cumulus.com.
