The two firms have been retained by Citadel Broadcasting, the nation's third-largest radio station operator, as it fends off a $2.1 billion unsolicited bid by Cumulus Media, the second-largest radio station ownership group in the U.S.
December 19, 2010 at 12:00 AM
1 minute read
Citadel Broadcasting, the nation’s third-largest radio station operator, has retained the services of two top Am Law 100 firms as it deals with repeated takeover offers from Cumulus Media, the second-largest radio station ownership group in the U.S.
The New York Times reported in early December that Las Vegas-based Citadel had rejected two unsolicited offers by Cumulus. On Friday, Cumulus announced it had bid $2.1 billion for Citadel, which promptly rejected the offer.
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