Cumulus Acquires Three Indy Radio Stations
Cumulus Media Inc. (Nasdaq: CMLS) has acquired three Indianapolis radio stations as part of a deal with Entercom Communications Corp. (NYSE: ETM). Through a "swap agreement," Cumulus will take over WNTR, WXNT and WZPL in Indy.
Cumulus will begin programming the Indianapolis stations March 1. 107.9 WNTR plays adult contemporary music, 1430 WXNT is a sports talk station and WZPL airs a Top 40 format. Cumulus Chief Executive Officer Mary Berner says the Entercom swap "significantly bolsters our competitive position in Indianapolis." Cumulus currently owns classic hits station WJJK, Top 40 station WYRG and country station WFMS in Indianapolis, along with country stations WWKI in Kokomo and WMDH in Muncie.
Under the deal, Entercom will receive WNSH in New York and WMAS and WHLL in Springfield, Massachusetts. The companies hope to close the deal in the second quarter.