Report: Cumulus Close to Susquehanna Radio Deal

The deal to sell SUSQUEHANNA MEDIA's radio station is closer to fruition, with the NEW YORK TIMES now reporting that a group headed by CUMULUS, the BLACKSTONE GROUP, and BAIN CAPITAL is close to a deal for over a billion dollars while SUSQUEHANNA's cable interests are headed to COMCAST for a price short of $800 million. The deals aren't complete as of FRIDAY (10/7) and could still collapse, the paper warns.

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