It is rare when my jaw drops reading a radio news story. Cumulus itself did not have a presence in New York City. They acquired three stations that originally belonged to Disney who owned ABC radio, which they sold to Citadel Broadcasting which immediately imploded and was acquired by Atlanta based Cumulus.
Cumulus is unloading WPLJ-FM (former home of Scott Shannon) to our friends at EMF (K-Love and Worship Air1). For their $103 million, they get five other stations in Atlanta, Washington DC, San Jose CA, Savannah GA and Syracuse, NY.
Cumulus is also unloading WNSH-FM, the Nash Country Music affiliate in New York City, trading it (and two stations in Massachusetts) to Entercom in order for Cumulus to take over the prosperous Indianapolis market.
That will leave Cumulus only owning WABC-AM. Perhaps Toll Brothers could build a luxury community in Lodi, NJ at the WABC transmitter site.