Cumulus Media Inc. Announces Pricing of $610.0 Million of 7.75% Senior Notes due 2019

Cumulus Media Inc.

announced today that it has priced its previously announced offering of $610.0 million aggregate principal amount of 7.75% senior notes due 2019. The sale of the Notes is expected to be completed on May 13, 2011, subject to customary closing conditions. As a part of its refinancing transactions in connection with its pending acquisitions of Cumulus Media Partners, LLC and Citadel Broadcasting Corporation, the Company intends to use the net proceeds from the offering of Notes to (i) repay in full all outstanding amounts under the term loan facility under the Company's existing senior secured credit facilities and (ii) pay fees and expenses related to the offering of Notes. Any remaining proceeds will be used for general corporate purposes.