An unknown buyer sent an indication of interest to acquire Cumulus Media Inc. (NasdaqGM:CMLS) recently. As per the terms of the transaction, the buyer shall acquire Cumulus Media for $15.00 to $17.00 per share.

An unknown buyer cancelled the acquisition of Cumulus Media Inc. (NasdaqGM:CMLS) recently. The Board of Directors of Cumulus Media unanimously concluded that the indication of interest significantly undervalues Cumulus Media and is not in the best interests of the shareholders.