Citadel Broadcasting (CDELB.PK +14.7%) is in exclusive negotiations to sell itself to Cumulus...


Citadel Broadcasting (CDELB.PK +14.7%) is in exclusive negotiations to sell itself to Cumulus Media (CMLS +13%) in a $37/share deal, CNBC's David Faber reports. The deal would be highly leveraged, requiring Cumulus, with a $200M market cap, to finance a cash payment of more than $1B. Citadel rejected a $31/share deal in December.
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