Less than 24 hours after one of the biggest radio station transactions in recent memory was consummated, media brokers and industry observers appear to be split in their reaction to the purchase price struck for six highly regarded FMs being sold by Cumulus Media to Educational Media Foundation.
One highly regarded broker praised Cumulus for getting a deal done. At the same time, an observer who requested anonymity is simply dumbstruck by the low valuation given to the facilities going to EMF.
That reaction may pale to the one many may have to this just-uncovered fact: Cumulus and EMF have been working for weeks on a deal that was finalized on the final day of January.
