FCC Oks Cumulus Media, Citadel Broadcasting Merger

RADIO ONLINE | Wednesday, September 14, 2011 | 5:59pm CT

Cumulus Media and Citadel Broadcasting said Wenesday that the FCC has approved the pending merger of the two radio broadcasters. With the FCC okay and the previously announced termination of the waiting period under the Hart-Scott-Rodino act, Cumulus and Citadel have now received all required regulatory approvals in connection with the merger. Under the FTC deal, Cumulus will divest three stations in two markets, Flint and Harrisburg.

The only remaining hurdle is the approval of Citadel shareholders. The company's special meeting of stockholders will be held on Thursday, September 15. The deadline for Citadel's stockholders to make an election with respect to the consideration they wish to receive in the merger is 5pm on Thursday. The merger is expected to close on Friday.