BANGOR — Cumulus radio stations in the Bangor, Augusta and Presque Isle markets are included in the sale of 55 radio stations to Townsquare Media in exchange for $116 million plus 10 radio stations in Illinois.

Cumulus said the deal is part of its plan to focus on radio stations in large markets.

WLBZ-TV says Connecticut-based Townsquare will acquire five stations in Bangor, three in Presque Isle and four in Augusta. Cumulus, which is keeping its Portland stations, also picks up 10 stations in Illinois under the deal.

Townsquare CEO Steven Price says the transaction represents the company’s continued investment in small and mid-sized markets across the country.

 


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