DOJ Orders Divestitures In $2.4B Cumulus-Citadel Deal

Law360, New York (September 8, 2011, 6:30 PM EDT) -- The U.S. Department of Justice on Thursday ordered Cumulus Media Inc. to sell off three radio stations in Michigan and Pennsylvania to win antitrust clearance for its $2.4 billion acquisition of Citadel Broadcasting Corp.

Without the divestitures, the combination between two of the nation's largest radio station networks would hurt competition for radio advertising in the Flint, Mich., and Harrisburg-Lebanon-Carlisle, Pa., markets, the department said.

“The divestitures required by the consent decree will enable radio advertisers to continue to receive the benefits of competition in Harrisburg...
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