Susqehanna Sells Radio, Cable Businesses

Susquehanna Pfaltzgraff’s radio and cable television businesses are being sold in two separate deals worth nearly $2 billion.

Cumulus Media, already the No. 3 radio owner in the country, is joining a group of investors to acquire Susquehanna’s radio stations for about $1.2 billion.

Meanwhile, the nation’s largest cable operator, Comcast, said it is snapping up Susquehanna’s cable TV and broadband businesses for $775 million.

Susquehanna Radio is the largest privately held radio broadcaster in the country, with 33 radio stations in eight of the country’s larger markets.