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Cumulus Buys out is's Private Equity Partners

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upndownthedial

From Inside Radio: In an all-stock deal, Cumulus Media will buy out its private equity partners in its privately-held Cumulus Media Partners. The company will issue nearly 10 million shares of stock to cover the 75% stake held by Bain Capital, Blackstone Group and Thomas H. Lee Partners. The deal is valued at $740 million.
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Interesting. ol' Lew is parting with some $$. Just for the record, CMP paid Susquehanna 1.1 Billion for those stations. Hmmm
 
Can you say stock dilution. I'm glad I'm not a shareholder of CMLS. They increased the shares outstanding by 28% according to my calculation.
 
Bizman said:
Can you say stock dilution. I'm glad I'm not a shareholder of CMLS. They increased the shares outstanding by 28% according to my calculation.
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It's probably in your best interest to watch these pirates closely anyway. Their history of "cooking the books" is well-documented. Previous "home cooking" once took their stock price from $55 to less than five.

I wouldn't trust them with a penny.
 
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