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Atlanta-based Cumulus Media, Inc., the second largest radio station operator in the country, has signed a definitive merger agreement to acquire Pennsylvania-based Susquehanna Pfaltzgraff Co., the 11th-largest radio operator, in a transaction valued at $1.2 billion. Also, CSTV Networks, the cable channel and group of Web sites devoted to the coverage of college sports, was acquired by CBS for $325 million. The transaction is expected to close in January 2006.
November 10, 2005 at 12:00 AM
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