Radio broadcaster Cumulus Media Inc. (Nasdaq: CMLS) agreed to purchase Dial Global Inc. (OTCMKTS:DIAL), a content producer, for roughly $260 million in cash.

By taking over Dial Global, Cumulus doubles its capacity to create original, branded entertainment. New York-based Dial Global produces and distributes various types of radio programming, including nationwide coverage of the National Football League. Proceeds from the deal would be used to pay off Dial’s debt.

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