The sale comes as television and radio companies rush to buy stations after recent changes in telecommunications law that raised ownership limits.

Due to ownership limits, Clear Channel sold the station to Cox in 2001.

Bad: rent control, moderate to high taxes & costs, significant ownership limits.

In the beginning, an overall foreign ownership limit of 20% for equities and 40% for bonds was implemented.

At that time they acquired several other stations in the market, bringing them to over their ownership limit of 8.

The telecommunications bill currently before the House would remove current ownership limits.

"It sets near- impossible standards for justifying bright-line ownership limits."

As part of the deal, Cumulus Media will have to place 14 stations into a separate trust to comply with ownership limits.

Without ownership limits and other safeguards, the new digital medium will unfairly favor a small number of powerful interests.

He said ownership limits should, if anything, be increased so that no company has that much power over what programming people can see.