PRINT THIS PAGE US private equity groups and Cumulus to acquire Susquehanna Radio for $1.2bn31/10/2005. Source: AltAssets. 
 US private equity groups Bain Capital, The Blackstone Group and Thomas H. Lee Partners and US radio operator Cumulus Media have formed Cumulus Media Partners to acquire the radio broadcasting business of Susquehanna Pfaltzgraff Co for approximately $1.2bn.
Susquehanna Radio consists of 33 radio stations in eight markets including San Francisco, Dallas, Houston, Atlanta, Cincinnati, Kansas City, Indianapolis and York, Pennsylvania.
Giving effect to the completion of all pending acquisitions and divestitures, Cumulus Media directly and through its investment in Cumulus Media Partners, will own and operate 343 radio stations in 67 US media markets.
Bain Capital manages several pools of capital including private equity, high-yield assets, mezzanine capital, venture capital and public equity with more than $26bn in assets under management.
Blackstone recently held a first close on its latest fund on $10.3bn. In addition to private equity investing, Blackstone's core businesses are private real estate investing, corporate debt investing, marketable alternative asset management, corporate advisory, and restructuring and reorganisation advisory.
Thomas H. Lee Partners currently manages approximately $12bn of committed capital, including its most recent fund, the $6.1bn Thomas H. Lee Equity Fund V.
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