Cumulus Media Inc. (NasdaqGS:CMLS) signed a definitive agreement to acquire WFME-FM from Family Stations, Inc. on October 15, 2012. Cumulus Media will exchange its WDVY station in New York plus $40 million in cash for Family Stations' WFME station. The total purchase price is subject to increases of $10 million up to a total purchase price of $50 million dependent on location and FCC class changes. The transaction is expected to close in the fourth quarter of 2012. Jones Day acted legal advisor for Cumulus Media. Elliot Evers of Media Venture Partners LLC acted as financial advisor for WFME-FM.

Cumulus Media Inc. (NasdaqGS:CMLS) completed the acquisition of WFME-FM from Family Stations, Inc. on January 8, 2013.