Oaktree Capital Buys Stake in Cumulus
Oaktree Capital, parent company of Townsquare Media, owner of NewsTalk 1280 WGBF, has purchased nearly 4 million shares in another radio station group – Cumulus. Allaccess.com has details.
An SEC filing by OAKTREE CAPITAL MANAGEMENT LP shows that the investment firm has purchased 3,985,983 shares of CUMULUS MEDIA stock, giving OAKTREE a position currently valued at $11,320,192 in the radio operator.
OAKTREE holds the controlling interest in TOWNSQUARE MEDIA and TRITON DIGITAL and has significant interests in cable operators CHARTER COMMUNICATIONS, TIME WARNER CABLE and COMCAST as well as the WASHINGTON POST. It is also one of several creditors of TRIBUNE CO.