Cumulus Media Inc. (Cumulus) owns and operates commercial radio station clusters throughout the United States. At December 31, 2011, it owned or operated approximately 570 radio stations (including under local marketing agreements (LMAs)) in 120 United States media markets and operated nationwide radio networks serving over 4,500 affiliates. At December 31, 2011, under LMAs, it provided sales and marketing services for seven radio stations in the United States. On August 1, 2011, the Company acquired Cumulus Media Partners, LLC. On September 16, 2011, it acquired Citadel Broadcasting Corporation. In April 2012, the Company announced the sale of 55 stations in 11 markets to Townsquare Media in exchange for the acquisition of 10 radio stations in two markets.