Dickey Raises Acquisition Funds

Former Cumulus CEO Lew Dickey's Modern Media Acquisition has raised $180 million in an initial public offering of 18 million units at $10 each. MMA is a "blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase ... [or similar] with a target company." MMA's target is a company valued between $500 million and $1.5 billion. Details here.