According to Inside Radio Lew Dickey owner of Cumulus is buying Susquehanna (with KFOG/KSAN/KNBR) but not as Cumulus, instead as a partner with some other group.
Here's what it says at the link:
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Susquehanna update - Lew Dickey should have an announcement any day.
That’s Lew separate from Cumulus, we think – with backing led by Deutsche Bank. And the price has reportedly passed the $1.2 billion mark.
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Of course after the sale is announced the new owners might swap or trade stations so who knows how it will all end up.
What have I heard? Nothing. Secrets like this are well kept.
From this Hoovers report:
"Cumulus Media reigns over an empire of radio stations. The company is the #2 radio station ownership group in the US (behind Clear Channel) with about 300 stations (including pending acquisitions) serving about 60 small and midsized markets. The company's stations program a variety of formats, from music to talk radio. In each of its markets, Cumulus has built clusters of stations that realize cost savings through shared administrative and sales operations. Chairman, president, and CEO Lewis Dickey and his family have 30% voting control of the company."
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