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89% of Citadel shares are voted in favor of Cumulus sale: Closing tomorrow
The special shareholder meeting of Citadel Broadcasting was held this morning, and word of the deal's approval came quickly. Citadel says "The merger agreement has been adopted by 78.51 percent of the outstanding shares of Citadel Class A common stock and Class B common stock voting as a single class and 88.86 percent of the Class A and Class B shares of common stock voting." With approvals from both the Department of Justice and FCC, "the merger is now scheduled to close on September 16, 2011." Follow the Cumulus stock ("CMLS") here.
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