ATLANTA ( TheStreet) -- Cumulus Media ( CMLS), the radio broadcaster, agreed to buy Citadel Broadcasting for cash and stock valued at $37 a share. The deal places an enterprise value on Citadel of about $2.4 billion. Cumulus, in a statement, said it expects to complete the merger by the end of 2011. Cumulus said it has obtained commitments for up to $500 million in equity financing from Crestview Partners and Macquarie Capital, and commitments from a group of banks for up to $2.525 billion in senior secured credit facilities and $500 million in senior note bridge financing. After the acquisition, Cumulus would own 572 radio stations across about 120 U.S. markets, the company said. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.