Citadel to commence debt tender offer as part of Cumulus merger

By Toni Weeks

San Diego, March 30 - Citadel Broadcasting Corp. said it will commence a debt tender offer to purchase its existing senior notes in order to satisfy a March 10 merger agreement with Cumulus Media Inc.

In a 10-K filing with the Securities and Exchange Commission, the company will solicit the consent of the holders of the senior notes to eliminate or waive certain sections of the indenture governing the senior notes.

The closing of the debt tender offer will be conditional on the closing of the Cumulus merger, but the closing of the merger and the debt financing are not conditioned upon the closing of the debt tender offer.

Citadel is a Las Vegas-based radio company.

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