Cumulus Completes Tallahassee Acquisition; Closes On Radio Station WGLF-FM- in Tallahassee.
MILWAUKEE--(BUSINESS WIRE)--March 21, 2000
Cumulus Media Inc. (NASDAQ:CMLS) announced that it has completed the acquisition of WGLF(FM), Tallahassee, Florida. The Company acquired the station from Tallahassee Broadcasting Company for $4.0 million.
Known as "Gulf 104", WGLF is one of four FM stations and one AM station owned and operated by Cumulus in the Tallahassee radio market. The full Class C, 90 kW broadcast facility of WGLF throws the largest signal over the Tallahassee region of any commercial radio station. Tallahassee is ranked the 159th largest market by Arbitron.
"We are very excited to be closing on this fabulous rock brand in Tallahassee," said John Dickey, Executive Vice President and Director of Programming for Cumulus.
Tallahassee, the state capital of Florida, is ranked third by Money magazine for quality of life among 45 mid-size cities in the South. With two state universities and three Inc. 500 companies -- Pharmacy, Supercomputer Computations Research Institute and National High Magnetic Field Laboratory -- Tallahassee has one of the fastest growing business sectors in the country.
Cumulus Media owns and operates radio station clusters in mid-size markets. Assuming the completion of all pending acquisitions, Cumulus Media will own and operate 321 radio stations in 64 U.S. media markets. The Company commenced operations May 22, 1997.