Designed by Solomon Cordwell Buenz, Cumulus will include a 30-story tower, plus plazas, offices, and shops. The first closing of the transaction is expected to occur in the fourth quarter. During a conference call Friday with analysts, CFO John Abbot noted that Cumulus is the last big radio group to own such a sprawling network of towers across the country. Cumulus Exploring Sale of Broadcast Towers By The Editors of AGL February 25, 2020. Three guyed masts: 819 ft (249.6 m), 469 ft (143 m) and 260 ft (79.2 m) tall, are used by AM radio stations WFNC 640 kHz and FM stations WQSM 98.1 MHz, W237CM 95.3 MHz; W247BS 97.3 MHz and W275BW 102.9 MHz. History; Tower controversy; References; External links; History. During its quarterly earnings call today, Cumulus Media revealed it had agreed to a deal on Friday to sell its portfolio of transmitter sites to Vertical Bridge for $213 million. Cumulus Media, the company behind the Westwood One Podcast Network (which reps Lemonada, Ben Shapiro, Pat McAfee, and more), is selling its radio tower portfolio to Vertical Bridge for $213M. Cumulus owns 424 radio stations in 87 markets and is a major syndicator through its Westwood One arm. CUMULUS MEDIA is a leading audio-first media and entertainment company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. Cumulus Media Tower … The tallest structure in the world is the Burj Khalifa skyscraper at 829.8 m (2,722 ft). 94.1 began in the early 1940s as WBUY-FM by Davidson County Broadcasting as a simulcast partner of their AM station WBUY at 1440 on the dial. The company reported the agreement in a filing with the Securities and Exchange Commission and in its latest quarterly financial announcement. Learn how your comment data is processed. Cumulus Media is getting out of the tower ownership biz. And, for radio industry nostalgia lore, it will forever be woven into the history of a Talk station associated with ABC for many years and today a part of Cumulus … She’s referring to the former WMAL-AM tower site. “We're at a very early stage in our exploration, and we expect to be working through the possibilities over the … Podcasting News & Views Radio Towers? WWLV (94.1 FM) is a radio station licensed to Lexington, North Carolina, and serving the Piedmont Triad metropolitan area. President/CEO Mary Berner described it as âan agreement to monetize our tower portfolio for more than $210 million, proceeds which will further add to our liquidity and contribute to significant incremental debt pay down.â. Cumulus Media agreed to sell nearly all of its towers in a bid to increase its liquidity and help pay down debt. The company expects funds from the deal completion to permit substantial debt paydown and provide additional liquidity. The initial term of each lease would be 10 years, followed by five option periods of five five years each. During the quarter, Cumulus executed agreement to monetize its tower portfolio and related assets for $213 million. 98.3 Nash Icon is a Cumulus Media station Station Address: 14 S. Monroe St. Monroe, MI 48161 Studio Phone Number: 734-242-8898 Station Business Number: 734-242-6600 Prize pick up and office hours are Monday - Friday 8:30am - 5:30pm Station Management Contact Information Dana Di It plans to sell “substantially all” of its broadcast communication tower sites to Vertical Bridge and to lease access to them instead. (515) 685-2072. Breaking, actionable and relevant wireless industry news, straight to your inbox, every day. Update my browser now, Home Atlanta-based radio station giant Cumulus Media Inc. on Monday announced another deal to raise money, saying it will sell its radio towers in a $213 million deal to boost its liquidity and contribute to significant incremental debt paydown.