WITH THE RADIO industry suffering from a drop in advertising revenue, Atlanta-based radio giant Cumulus Media Inc. this week said it would take itself private. It’s pursuing the deal with advice from lawyers at Jones Day and Sutherland Asbill & Brennan.
Jones Day partner John E. Zamer is leading a group of attorneys in his firm’s Atlanta office in advising the investors spearheading the transaction, according to the law firm. The investors include Cumulus Chief Executive Lewis W. Dickey Jr. and Merrill Lynch Global Private Equity. Jones Day partners William B. Rowland, Mark L. Hanson, David S. Phillips, Rory D. Lyons and Michael J. McConnell are also working with Zamer.
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