Cumulus Media Inc. (CMLS) Takes Equity Stake in Parent of Rdio
Cumulus Media is the biggest pure-play radio company in the country. It has approximately 520 owned and operated radio stations, as well as a distribution network reaching nearly 5,500 radio stations. Today the company announced a deal that will continue to expand its reach into the digital music ecospace. It has reached a content, promotion, and advertising partnership with Rdio that provides listeners with a one-stop solution for their audio needs while also offering advertisers new opportunities to get in front of consumers. Rdio is the innovative digital music service with on-demand access to over 20 million songs founded by…