Cumulus to buy radio rival Citadel Broadcasting
AP , 03.10.11, 08:12 AM EST Cumulus Media is buying Citadel Broadcasting in a $1.7 billion deal that would unite two of the nation's largest radio station owners.
Citadel Broadcasting Corp., the US radio-station owner that emerged from bankruptcy in June, said it rejected two unsolicited merger offers from an undisclosed party.