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Dial Global has imploded. Sold to Cumulus

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Now its clearer to learn why almost everyone was let go from Dial Global L.A.. Cumulus Media (owners of KLOS and KABC) has announced a series of deals, including the acquisition of syndication giant Dial Global, along with multiple deals involving Townsquare Media. Meanwhile, Townsquare has made additional moves involving Peak Broadcasting. Cumulus has officially acquired Dial Global for $260 million in cash (consisting of approximately $45 million attributable to equity and the retirement of $215 million of debt). The company has also sold 53 radio stations in 12 small & mid-sized markets to Townsquare Media for $238 million in cash (inclusive of the acquisition of net working capital). Cumulus is also swapping 15 radio stations with Townsquare in two small and mid-sized markets in exchange for the receipt of five stations in Fresno.

Courtesy Don Barrett
 
There are a few people still left at DG who absolutely refuse to work for Cumulus. In addition to the inevitable layoffs, I think there will be a few resignations too.
 
Several local stations are Dial Global: KIIC, Classic Country; KTWA, whose website states, new website coming soon. KRKN, new country and KKSI, Classic Rock which already has a new website with no personalty page.
 
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